A transfer by Binance US to amass belongings belonging to the bankrupt crypto lending agency Voyager Digital has been favored by 97% of Voyager’s clients.
A Feb. 28 courtroom submitting exhibits an amazing majority of Voyager Digital account holders are in favor of the buyout from the United States-based arm of the crypto change Binance.
Chapter administration agency Stretto carried out the balloting of Voyager clients which polled 61,300 account holders with claims towards the embattled crypto lender.
Of that complete, 59,183 voted in favor of the Binance US restructuring plan with simply 3%, or 2,117 voters rejecting it.
The voters had been divided into 4 courses together with, account holder claims and three classes of these with “normal unsecured claims.” The latter teams additionally voted in favor of the proposal.
In December, Binance US disclosed an settlement to purchase Voyager’s belongings for $1.02 billion. In line with the press launch on the time, the Binance US bid “goals to return crypto to clients in form, in accordance with court-approved disbursements and platform capabilities.”
Nevertheless, there was a number of pushback and quite a few objections to the proposal by the American division of the world’s largest crypto change.
In line with a Feb. 24 courtroom submitting, the Texas State Securities Board and the Division of Banking objected to the proposed deal.
It claimed the restructuring plan include plenty of “insufficient” disclosures. A few of these included not informing unsecured collectors that they could solely get 24% to 26% restoration relatively than the 51% they might obtain underneath Chapter 7 chapter.
Associated: Voyager is promoting crypto belongings via Coinbase, suggests on-chain information
The Securities and Change Fee (SEC) additionally objected to the transfer. A Feb. 22 courtroom submitting claimed the Binance US acquisition of Voyager belongings may breach securities regulation.
On the identical day, the Federal Commerce Fee (FTC) began an investigation into Voyager Digital for its “misleading and unfair advertising of cryptocurrency to the general public.”
