Voyager creditors to challenge US DOJ Appeal in Binance. US-voyager deal.

[Coinpedia Fintech News]

The Voyager creditors committee plans to challenge any appeal against the Bankruptcy Court's approval of Binance.US's acquisition of Voyager Digital assets. This move comes as the U.S. Department of Justice challenges Judge Michael Wiles' decision to approve the sale of Voyager assets to Binance.US for $1 billion. The appeal comes amid objections from the U.S. Securities and Exchange Commission (SEC) and state regulators. The Voyager Official Committee of Unsecured Creditors stated that it will work with the Debtors to oppose any appeal against the deal. However, an appeal could significantly delay creditor recoveries.

Earlier, the court approved the acquisition of Voyager assets by Binance.US after a four-day confirmation hearing. The judge agreed that Binance.US's deal is the best for impacted Voyager creditors to maximize their recoveries. The deal will help customers recover 73% of the crypto assets they owned before the bankruptcy.

Meanwhile, Voyager Digital has been continuously selling its crypto assets. After the approval of the deal, Voyager sold crypto assets worth over $56 million to Binance.US, Coinbase, and Wintermute Trading on Thursday. The major crypto assets included Ethereum, Shiba Inu, Chainlink, and Voyager Token. According to analysis firm Arkham, Voyager Digital dumped over $350 million of its on-chain crypto assets over the past six weeks.