VGX token isn't a security, investvoyager has said, after claims made by SECGov in court last week threatened to scupper a $1 billion offer from crypto exchange binance. jackschickler reports.
because financial instruments should be registered with the regulator. The statement did not reflect the views of the SEC commissioners, Uptegrove said.
“This supplemental statement from the SEC’s counsel was a surprise to the Debtors,” Renzi said. He added Voyager had given the regulator information on VGX on the topic around one and half years ago, and hence might reasonably have considered the matter closed. “The Debtors are burning more than $10 million a month” until the deal is finalized, the filing said, so a longer legal process means less funds for creditor distributions. “The Debtors cannot responsibly delay any further to accommodate the SEC’s apparent evolving deliberative process.”” by the vague nature of the SEC’s objection, Renzi has now proposed modifications to the exact wording of the deal, which he said were sufficiently minor that no further creditor vote is needed.
Binance US announced its planned acquisition in December, but in response to SEC revelations at recent hearings, Binance’s chief executive officer Changpeng “CZ” Zhao tweeted that he might “Shortly after CZ clarified in a further tweet that he is “still in support of the deal and helping returning funds to users as quickly as possible, if allowed to do so.”
The hearing to approve the deal, held in a Southern District of New York courtroom, enters its third day Monday.
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