Voyager Digital Ltd. won court approval to sell itself to Binance.US, the US arm of the world’s biggest crypto exchange, after four days of contentious bankruptcy hearings in which state and federal regulators joined a handful of investors in opposing the approximately $1 billion deal.
US Bankruptcy Judge Michael Wiles said he would give Voyager permission to try to close the Binance.US sale and a related payout plan which may give customers about 73% of what they are owed, depending on where prices for various cryptocoins land in the coming weeks. Wiles rejected claims by lawyers for the US Securities and Exchange Commission that parts of the deal and the plan violate federal law.
