Michael Wiles News

Bankrupt crypto lender Voyager Digital has seen more than $250 in net outflow since it resumed withdrawals on June 23, a year after it filed Chapter 11 and halted withdrawals. 

Crypto lender Voyager Digital said Wednesday that customers will soon recover about 35% of their cryptocurrency deposits as the company winds down operations after a failed buyout attempt by crypto exchange Binance.US. U.S. Bankruptcy Judge Michael Wiles approved Voyager's liquidation plan at a court hearing in Manhattan, allowing the company to return about $1.33 billion in crypto assets to customers and end its efforts to reorganize under Chapter 11. Customers may be able to make withdrawals by June 1, Voyager's official creditors committee said. Any distribution beyond the initial 35% would depend on the result of future litigation. Voyager filed for bankruptcy protection in July, citing volatility in cryptocurrency markets and a default on a large loan made to crypto hedge fund Three Arrows Capital (3AC).

Bankrupt crypto lender Voyager Digital has won court approval to self-liquidate assets and start repaying customers a portion of their frozen funds. 

Bankruptcy crypto lender Voyager Digital said customers will soon recover 35 percent of their cryptocurrency deposits, following a rocky road over the past few months of multiple failed buyouts.

Crypto brokerage Voyager’s bankruptcy plan was approved by the United States Bankruptcy Court for the Southern District of New York on May 17, according to a Reuters report. Judge Michael Wiles’ order approving the procedure was published by the court a day earlier. 

The case the US Government has made against Binance.US’ plans for an acquisition of bankrupt crypto lender Voyager Digital got a little stronger after a judge decided to halt the merger of the firms pending a government appeal.

On 27 March, a US federal judge temporarily halted the proposed $1.3 billion sale of bankrupt crypto firm Voyager Digital to Binance.US. The ruling grants the United States Securities and Exchange Commission (SEC) more time to question the deal’s legality on appeals. 

Voyager Digital’s $1 billion sale to Binance.US has been temporarily halted by a federal judge after a request by the United States government for an emergency stay.

The District Court of the Southern District of New York declined the United States government’s reasonings for halting the acquisition of bankrupt brokerage company Voyager by Binance.US. According to Judge Michael Wiles, any protractions with the deal will harm the interests of Voyager’s former clients, who are waiting to return their funds. 

Voyager Digital's bankruptcy plan, creating a new hurdle for the crypto lender's plan to sell its assets and transfer its customers to Binance.US in a deal valued at $1.3 billion. The U.S. Attorney's Office for the Southern District of New York and the Office of the U.S. Trustee, the Department of Justice's bankruptcy watchdog, filed a notice of appeal late Thursday in U.S. bankruptcy court in Manhattan. It did not detail why they were appealing. U.S. Bankruptcy Judge Michael Wiles, who is overseeing Voyager's Chapter 11 bankruptcy process, had approved Voyager's restructuring plan, which is built around the acquisition by crypto exchange Binance.US, at a hearing on Tuesday after overruling objections from the U.S. Securities and Exchange Commission and DOJ. Voyager, Binance.US and the DOJ did not immediately respond to requests for comment on the appeal.

Shortly after bankrupt crypto lender Voyager Digital was authorized to sell its assets to crypto exchange Binance.US and transfer its users to the platform, the U.S. Department of Justice (DOJ) made an attempt to block the sale by filing an appeal that could derail it.

The United States Department of Justice (DOJ) has filed an appeal against the latest decision in the case for the selling of assets between Voyager Digital and Binance.US.

Bankrupt crypto lender Voyager Digital is allowed to sell its assets to Binance's American arm, Binance.US, and transfer its customers to the exchange - but this is not the end. 

Binance’s American affiliate won court approval to take over thousands of customer accounts from bankrupt crypto platform Voyager Digital despite warnings that the Binance.US exchange faces possible regulatory action.

Binance.US – the American subsidiary of Binance – has defeated the United States Securities and Exchanges Commission (SEC). The American crypto exchange won the rights to acquire Voyager Digital’s assets, according to a report by Bloomberg. The bankruptcy judge of the Southern District of New York – Michael Wiles – gave the crypto exchange the green light after four days of the hearing. The judge struck down the claims made by the SEC.

Bankrupt cryptocurrency lender Voyager Digital has won court approval to sell over $1 billion of its assets to Binance US.

The United States Securities Exchange Commission (SEC) won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy tokens to help repay impacted customers, bankruptcy judge Michael Wiles has said.

The United States judge overseeing Voyager Digital’s bankruptcy case has chastised the Securities and Exchange Commission (SEC) for its ambiguous reasoning for objecting to the crypto lending firm’s proposed sale to Binance.US. The details have been shared in a report published by Reuters.

The bankruptcy judge on Voyager Digital’s case has reportedly scolded the United States securities regulator over its ambiguous reasoning for objecting to the crypto lending firm’s proposed sale to Binance.US.

The United States Federal Trade Commission said it had started an investigation of crypto lending firm Voyager Digital parallel to the company’s bankruptcy proceedings.

Lawyers representing bankrupt crypto broker Voyager Digital have served former FTX CEO Sam Bankman-Fried and other FTX and Alameda Research executives with subpoenas requesting information.