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Voyager’s $1 billion trade to Binance.US is being held up by a US court

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A federal judge has temporarily suspended a proposed deal between Voyager and Binance.US to give the government more time to pursue prayers challenging the deal.

Voyager Digital’s $1 billion trade to Binance.US has been temporarily halted by a civil judge following a request from the United States government for a state of emergency.

The request for emergency stay was granted by US Judge Jennifer Rearden. District Court in New York on March 27, meaning the implicit agreement between Voyager and Binance.US will now have to wait until at least a decision is made on the Justice Department’s appeal against the demolition plan.

The DOJ filed for emergency surgery for a delay on March 17. This furor was immediately challenged by Voyager Digital and the Official Committee of Creditors which was relaxed on March 20 and responded again by the DOJ in a final “counter” fight on March 21.

In last sequence, Judge Rearden typifies

“After considering the written cessions of all parties, as well as the conferences and oral arguments held in this regard, the urgency of the government is hereby GIVEN. ”

A federal judge will soon issue an opinion explaining the decision in more detail.

The cryptocurrency trading establishment filed for a Chapter 11 crash on July 5 and has been visionary in coordinating plans to redistribute finances previously.

Voyager’s accession to Binance.US was granted by Judge Wiles on March 7. Part of the blessing involves allocating wreckage memorials to impacted Voyager guests.

However, the US controller has made many attempts to stop the deal.

In addition to the DOJ, theU.S. The Securities Exchange Commission argued in a March 15 frenzy that the planned destruction of Voyager would result in fraud, theft, or avoidance of duty. However, this claim was later disputed by Judge Michael Wiles.

The relaxed Voyager Official Committee of Creditors said in a March 27 tweet that they “will continue to aggressively oppose Government action. ”

More than 97% of Voyager’s 61,300 account holders support the restructuring plan, according to a report issued in court forms Feb. 28. The plan is expected to pay off 73 of the Voyager guest debts.

Post Voyager’s $1 billion trade to Binance.US detained by US courts first appeared on BTC Wires.

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