Voyager labels FTX a “hypocrite” for resisting the Binance Deal

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Key Takeaways:

  • Voyager charged Alameda Research with “hypocrisy,” claiming the company conned investors and basically everyone else in the world.
  • Voyager also replied back to the various regulatory bodies of New Jersey, Texas, Vermont, the U.S. Trustee, and the SEC regarding the issue.

A lot of people believe 2022 was the year that witnessed  bankruptcies at its peak. Now that FTX’s vast empire has already crumbled, Binance.US took the initiative and was prepared to buy Voyager’s assets for $1 billion. The latest charges made by Alameda Research about its agreement with Binance have been deemed completely baseless by the defunct digital lender Voyager. 

Alameda claimed in a critical filing last week that the proposed $1 billion takeover agreement flouts the requirements of bankruptcy code.

The insolvent cryptocurrency trading company, according to Voyager, has fervently endeavored to subvert and sabotage its reorganisation attempts. The lender claimed that Alameda intended to undermine its businesses by proposing a lowball bid in an effort to get ahead of its marketing approach.

In return, Voyager filed a document  accusing Alameda of “hypocrisy and chutzpah at its finest,” citing how the company has misled most of the world in addition to its debtors.

In December, Voyager and Binance.US reached an agreement to sell off their remaining assets, which they claimed would provide a clear way ahead for Voyager customer monies to be freed as soon as feasible.

Prior to the crypto market meltdown, Alameda had given Voyager a line of credit worth almost $377 million. Voyager subsequently issued an announcement explaining that Alameda’s deceptive and misleading promises were the only reason they were persuaded into signing this contract.

The SEC questions Binance.US’s  financial competence to execute the acquisition, as stated in the filing. The SEC is specifically investigating how the exchange will safeguard consumer assets and restructure the business.

The facts will be discussed during the impending hearing, according to reports that the SEC and Voyager’s lawyers have spoken about the problems.

Financial regulators other than the SEC and the DOJ also opposed the acquisition. Additionally opposed were the financial regulators of Vermont, Texas, and New York.

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Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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