Texas objects to Voyager-Binance.US deal, court docket submitting reveals

Texas’ State Securities Board and the Division of Banking are objecting to a proposed deal between Binance.US and bankrupted crypto lender Voyager Digital, in accordance to a Feb. 24 court docket submitting 24.

In keeping with the doc, Binance.US’s phrases of service and restructuring plan include various “insufficient” disclosures, together with not informing unsecured collectors adequately that below the plan, they could solely get 24%-26% restoration moderately than the 51% they might obtain below Chapter 7. Binance.US disclosed in December an settlement to purchase Voyager’s property for $1.022 billion.

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