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

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

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

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