Voyager Digital Holdings, a bankrupt cryptocurrency lender, has reached an agreement with the U.S. government, paving the way for its $1 billion sale of cryptocurrencies to Binance.US.
The deal was approved by a New York District Court on April 19, with the Official Committee of Unsecured Creditors also in agreement.
The government, however, retains the right to appeal certain exculpation provisions it claims protect Voyager from legal liabilities.
U.S. regulators have sought to block the deal, alleging it could facilitate fraud, theft or tax avoidance. Despite opposition, the majority of Voyager’s account holders have approved the sale, with the company working to distribute funds to creditors since filing for bankruptcy in July 2022.