U.S. Department of Justice Appealed Court Decision That Approves $1,300,000,000 Voyager Acquisition

It’s been revealed the fact that the US Dept just appealed the court of decision that approved a massive amount of money. Check out the following reports.

The U.S. Department of Justice (DOJ) is appealing a recent court decision that approved Binance.US’ acquisition of embattled crypto lender Voyager Digital.

As the online publication the Daily Hodl notes, “In a new court filing, the DOJ is appealing New York Judge Michael Wiles’ decision to allow Voyager to sell $1.3 billion worth of assets to Binance.US, the US branch of the world’s largest crypto exchange platform by volume.”

The deal also included a $20 million payout to customers of Voyager, which went bankrupt last year after troubled crypto firm Three Arrows Capital (3AC) failed to pay back a loan worth hundreds of millions of dollars.

“Earlier this week, Judge Wiles rejected the U.S. Securities and Exchange Commission’s (SEC) argument that the deal between the two companies should be stopped because it could possibly violate securities law,” the same notes reveal.

According to the SEC, the redistribution of the firm’s funds to account holders may be a violation of the Securities Act of 1933.

“Here, the transactions in crypto assets necessary to effectuate the rebalancing, the redistribution of such assets to Account Holders, may violate the prohibition in Section 5 of the Securities Act of 1933 against the unregistered offer, sale or delivery after sale of securities.”

According to the latest notes coming from CoinDesk, it seems that the U.S. authorities transferred $1 billion worth of bitcoin (BTC) recovered from a dark web hack to new wallet addresses, including one owned by Coinbase, on Wednesday, stoking investor fears that intense sell pressures could drive down the token’s price.

Check out the latest reports about the news.