U.S. Government Case Against Voyager-Binance.US The U.S. government believes there is a “substantial case on the merits” in its attempt to block Binance’s $1 billion deal to purchase the assets of bankrupt crypto lender Voyager, according to a New York judge on Friday.
District Judge Jennifer Rearden pledged to work quickly to resolve a dispute, noting that delays could cost the estate up to $10 million per month in fees.
In March, U.S. Bankruptcy Judge Michael Wiles had approved the sale. But this week Rearden indicated she would put that on hold while she considered objections from the U.S. Attorney that the contract effectively rendered Voyager immune from any breaches of tax or securities law. ‘Deal Has Substantial Merits, Judge Says
District Judge Jennifer Rearden has put the $1 billion deal on hold, but promised she’ll expedite an appeal in order to prevent too much delay.

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A New York judge ruled Friday that the United States government has a “substantial case on the merits” in its attempt to stop Binance.US from buying assets from bankrupt crypto lender Voyager for $1 billion.
District Judge Jennifer Rearden pledged to work quickly in order to resolve a dispute, noting that delays could cost the estate up to $10 million per month in damages.
In March, U.S. Bankruptcy Judge Michael Wiles had approved the sale, but Rearden this week indicated she would put that on hold while she considers whether this contract effectively absolved Voyager of any violations of tax or securities law.
Rearden noted that Voyager and its creditors have “completely refuted” government arguments, with neither providing any proof that a bankruptcy court can release criminal liability.