FTC objects to Binance.US-Voyager deal; reveals investigation into bankrupt firm
The US Federal Trade Commission (FTC) said it was investigating bankrupt lender Voyager Digital and its executives, according to a Feb. 22 court filing.
The FTC said it was investigating “certain acts and practices” of Voyager that constituted “deceptive and unfair marketing of cryptocurrency to the public.”
Due to this reason, the regulator has objected to Binance.US’ planned acquisition of Voyager’s asset, arguing that the sale could “interfere with causes of action by a governmental unit like the FTC.”
FTC argued that the proposed plan would “discharge” Voyager and its employees from claims linked to possible fraud.
The financial regulator wants the court to exclude sections of the proposal that would allow the firm or its employees to go scot-free.
In December 2022, Binance.US entered a deal to acquire the bankrupt’s firm asset for $1.022 billion.
Meanwhile, financial regulators like the U.S. Securities and Exchange Commission (SEC) have objected to the deal. The bankrupt firm Alameda also objected to the agreement.
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