The largest crypto exchange, Binance faces the stay for its ongoing $1.3 billion Voyager Digital purchase following a statement from a United States District Judge, Jennifer Rearden.
A federal judge halted the sale of bankrupt Voyager Digital after the United States government requested. The reason behind the request was to give the US GOVT more time to investigate the deal’s petitions.
“Upon consideration of all parties’ written submissions, as well as the conferences and oral argument held in this matter, the Government’s emergency motion is hereby GRANTED,” reads the ruling.
In response to this stay on the deal Voyager Digital also commented on Twitter.
Voyager stated, because of the stay on the deal, Debtor’s plan cannot go effective and distribution cannot be made until the “Government’s appeal of the confirmation order is complete or the stay is vacated by a higher court.”
It further stated, “We will continue to aggressively oppose the Government’s efforts and will provide further updates as they become available.”
Also read: Court rejects U.S. Government’s Stay Motion on Binance-Voyager Deal
