Web3 Diaries-Binance.US Drops $1 bn Voyager Deal
Binance.US has backed out of its agreement to purchase $1 billion of bankrupt cryptocurrency brokerage Voyager Digital assets, the company announced in a tweet. It laid the blame for the move on “the hostile and uncertain regulatory climate in the United States.”
Voyager, the Voyager Official Committee of Unsecured Creditors and the U.S. government reached an agreement on April 19 for the purchase to go through. The deal had been blocked on March 28 by an emergency stay granted by a judge while the U.S. Department of Justice appealed Voyager’s bankruptcy plan.
Voyager and the Voyager Official Committee of Unsecured Creditors both tweeted their dismay at the development shortly before Binance.US made its announcement.
ARK Invest And 21Shares Again File With SEC For Bitcoin ETF
Cathie Wood’s ARK Invest and European crypto investment firm 21Shares are both seemingly unperturbed by the cryptocurrency regulatory environment in the United States, again requesting approval for a Bitcoin -based financial product.
On April 25, the two companies requested that the U.S. Securities and Exchange Commission (SEC) approve the creation of a spot Bitcoin exchange-traded fund (ETF) despite being rejected twice before.
The two companies first applied to create their spot Bitcoin ETF on June 28, 2021, a request that was rejected by the SEC in April 2022. The regulator said the product did not meet the requirements of listing a financial product under its rules of practice as well as those of the Exchange Act.
FTX to raise $50 MN from LedgerX’s sale
Embattled crypto-exchange FTX, has announced its decision to sell its futures and options exchange and clearinghouse unit LedgerX to an affiliate of Miami International Holdings.
The bankrupt crypto firm and its associated debtors reached an agreement with M7 Holdings LLC to sell the crypto derivatives exchange after M7 Holdings emerged as the top bidder during the exchange’s bankruptcy auction.
According to a press release from FTX earlier today, the LedgerX deal was agreed upon after a comprehensive sales process as part of the Bahamas-based exchange’s Chapter 11 proceedings that included multiple bidders.
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