On Tuesday (Jan. 10), U.S. Bankruptcy Judge Michael Wiles accepted the proposed $1 billion sale of Voyager Digital's assets to Binance.US, but noted that completion of the deal was still pending a later court hearing. Joshua Sassberg, who represents Voyager, said his client is responding to concerns raised by the Committee on Foreign Investment in the United States (CFIUS) and will seek to expedite the U.S. national security review. He also said that part of that agreement includes payment of $20 million in cash, as well as transferring customers to Binance.US to withdraw money for the first time since July, with a supposed 51 percent payout on deposits at the time of the bankruptcy filing. However, there is a risk if CFIUS opposes the deal because customers will only receive cryptocurrency in return, which will lead to lower payouts than expected.
As the U.S. government uses the CFIUS program to stop Chinese investment in America, Changpeng Zhao, a Canadian citizen of Chinese origin who owns Binance, has no permanent residence.This company was checked by the U.S. Attorney's Office for money laundering. Company Binance.US , located in Palo Alto, Carolina, stated that their exchange is completely different from the main Binance platform. Besides, according to CFIUS, Glenn allowed the sale of Voyager even with objections from California state security regulators;however, he said securities regulators could challenge the final approval of the deal later. Voyager applied for bankruptcy protection in July, shortly after TerraUSD and Luna collapsed, causing disruption in the digital asset industry. FTX Trading was originally supposed to buy Voyager's assets, but that deal broke down when FTX faced customer withdrawals and charges of fraud, leading to the arrest of Sam Bankman-Fried, and ultimately leading to the bankruptcy of that company as well.
