Hey Peeps!

On December 19th, Binance.US, which is the American entity of Binance, shocked the world when it was announced their $1.022 billion bid to purchase Voyager was accepted.

However, on January 4th, the United States Securities and Exchange Commission (SEC) filed a "Limited Objection", effectively stopping the proceedings for the time being.

Here is the actual Limited Objection document that was filed into the court proceedings:

https://cases.stretto.com/public/x193/11753/PLEADINGS/1175301042380000000080.pdf

Based off the Limited Objection filing, it appears that the SEC needs more information from Binance and Voyager before they will lift their objection. 

The SEC is also concerned about Binance's US entity, Binance.US, actually has the funds necessary to make the $1.022 billion transaction to purchase Voyager.

The filing also implies that the SEC is wary of Binance's business operations and whether they may be some shady dealings going on between Binance.US and their parent company. 

"The SEC is the federal agency responsible for regulating the U.S. securities markets, protecting investors, and enforcing the federal securities laws. In that capacity, the SEC is formally investigating whether the Debtors and others violated the anti-fraud and other provisions of the federal securities laws."

- Therese A. Scheuer, Senior Trial Counsel of the SEC

Binance.US is stated to be a fully independent entity from Binance, but it is basically the U.S. version of Binance. 

Because of this, U.S. regulators have consistently been on Binance's case regarding Binance.US being a “de facto subsidiary" which they claim was created to insulate Binance from U.S. laws and regulations.

Regardless of this tension, Binance.US continues to operate and Binance CEO Changpeng Zhao continues to state that they are committed to complying with regulators. 

I am also worried that this Voyager deal will fall through, just like FTX, and Voyager customers will be left waiting and hoping again. 

Do you think the Voyager and Binance deal will move forward, or is it dead now?

Is this a sign of future trouble for Binance?

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