Connect with us

News

Binance & Voyager deal to proceed without holdings

The U.S District Court for the Southern District of New York declined the U.S. government’s reasonings for halting the acquisition of bankrupt brokerage company Voyager Digital by Binance.US.

Published

on

The U.S District Court for the Southern District of New York declined the U.S. government’s reasonings for halting the acquisition of bankrupt brokerage company Voyager Digital by Binance.US.

According to Judge Michael Wiles, any protractions with the deal will harm the interests of Voyager’s former clients, who are waiting to return their funds. 

The decision to deny the government’s motion came on March 15. In it, Wiles realleges his prior approval of Voyager Digital’s Chapter 11 bankruptcy plan, which suggests selling billions of dollars in assets to Binance.US in an effort to regain liquidity to pay back customers.

Thus, the court denied the government’s appeal for a stay of the confirmation order — an additional delay of two weeks in the bankruptcy plan realization. The appeal, filed on March 14, accused the bankruptcy plan of “immunizing fraud, theft or tax avoidance.” It has also demanded to remove the provision, preventing the U.S. authorities from legally pursuing anyone involved with the sale.

Judge Wiles counted these accusations as exaggerating and mischaracterizing,” and ruled to continue with the bankruptcy plan. However, he confirmed the duration of the current stay, which ends on March 20.

The court’s approval for Binance.US’ acquisition of Voyager was granted on March 7. Judge Wiles permitted the trading platform to close the Binance.US sale and issue repayment tokens to impacted Voyager customers. He rejected a series of arguments by the U.S. Securities and Exchange Commission that redistributing funds from Voyager to Binance.US would violate U.S. securities laws.

The decision came after 97% of 61,300 Voyager account holders favoured the restructuring plan. Based on the latest estimates, the plan is expected to result in Voyager creditors recovering approximately 73% of the value of their funds.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk