A federal judge has put Voyager Digital’s proposed $1 billion sale to Binance.US on hold temporarily to give the United States government more time to pursue appeals against the deal. The US Department of Justice filed an emergency stay motion on March 17, which was challenged by Voyager Digital and the Official Committee of Unsecured Creditors on March 20. The DOJ responded with a final “reply” motion on March 21.
Judge Jennifer Rearden of the US District Court in New York granted the government’s emergency motion, meaning the deal between Voyager and Binance.US will have to wait for a decision on the bankruptcy plan appeal. The federal judge will release an opinion explaining the decision in more detail soon. Voyager filed for Chapter 11 bankruptcy on July 5, and the Binance.US acquisition of the company was granted by Judge Michael Wiles on March 7.
