It is all in the news and I think Binance US is in the celebration mood. The court awarded them the Rights to acquire Voyager Digital's Assets in the Southern District of New York Court.
While passing my congratulatory note to Binance which is the Biggest Cryptocurrency Exchange in the world, I would like to pose this question, is it a win to cryptocurrency and the DeFi world of technology?
While you are still debating and digesting that, I would like to put to your notice that the case was a win against United States Securities and Exchange Commission (SEC). Somebody commented and said that the S in SEC stands for 'Suck'. How true this is, we are still to determine. Remember also the judge who presided over the case termed SEC's objections were vague. Imagine that!
This case as I see it, was as if SEC sought to flex it's muscles against Decentralisation and cryptocurrency. Theirs was a case of reversal to centralization. Am glad the court slapped them directly In the face with the sentence.
Finance US had come to buy the bankrupt Voyagers Assets for $1 billion. SEC and NYFDS would not hear of it. They came armed to the teeth to block the deal. Yet the court did them in. Thanks and Kudos to the judge who presided over the case.
Voyager Digital filed for bankruptcy in 2022 after the now defunct Three Arrows Capital defaulted on a $670 million loan provided by Voyager Digital.
The tussle in court was a win for Finance. US
