The deal has received preliminary approval from the bankruptcy judge, but it still needs to be approved by creditors and finalized by the court.
Voyager Digital, a bankrupt cryptocurrency lender, has received preliminary court approval for its proposal to sell its assets to Binance.US for $1.02 billion.
The approval comes amid a national security investigation into Binance.US, which Voyager is attempting to expedite.
It is estimated that Judge Michael Wiles of the United States Bankruptcy Court for the Southern District of New York allowed Voyager to enter into the asset purchase agreement and seek creditor approval on Jan. 10, but the sale will not become final until a future court hearing.
It comes as Voyager wants to speed up the review of its proposal to sell assets to Binance.US, which could lead to the deal being blocked or delayed.
During the court hearing, Voyager’s attorney, Joshua Sussberg, stated that Voyager has been responding to questions from the Committee on Foreign Investment in the United States (CFIUS) and will address any concerns that CFIUS may have that would cause it to oppose the transaction.