The preliminary approval for the $1 billion acquisition of Voyager Digital by Binance.US has been granted by the U.S. District Judge Michael Wiles of the bankruptcy court for the Southern District of New York.
However, some changes to the documents are required before the final clearance.
The agreement includes a $20 million cash settlement and a commitment to migrate Voyager’s clients to Binance.US’s crypto exchange.
This would be beneficial to both parties, as Binance would gain more customers and market share, and Voyager customers would have access to the Binance platform.
However, there have been objections raised by the Securities and Exchange Commission, state authorities, the U.S. Trustee’s office, and other private parties.
The Committee on Foreign Investments in the United States will also be evaluating the transaction. The final agreement will be determined during a hearing scheduled on or around March 2nd.
