BinanceUS, the American arm of cryptocurrency exchange Binance, has won a legal victory in its bid to acquire the assets of rival firm Voyager Digital. A New York judge has ruled that BinanceUS can move forward with the acquisition, which was initially announced in December 2022.
The decision comes after Voyager Digital sought an injunction to prevent the acquisition, arguing that it would harm its shareholders. However, Judge Andrew Borrok rejected this argument, stating that Voyager Digital had not provided sufficient evidence to support its claims.
BinanceUS will now be able to proceed with the acquisition, which is expected to boost the exchange’s presence in the US market. Voyager Digital’s assets include a trading platform and a range of digital assets, including Bitcoin and Ethereum.
In a statement, BinanceUS CEO Brian Brooks hailed the ruling as a “major milestone” for the exchange. He also expressed confidence that the acquisition would help to “accelerate our growth and enhance our ability to serve our customers in the US market.”
The acquisition is subject to regulatory approval, and BinanceUS will need to obtain a license from the New York State Department of Financial Services before it can proceed. However, the ruling by Judge Borrok is a significant step forward for the exchange, and it is expected that the acquisition will be completed in the coming months.
The acquisition of Voyager Digital’s assets is part of Binance’s broader strategy to expand its operations in the US market. Binance has faced regulatory challenges in other parts of the world, but the acquisition of Voyager Digital’s assets is expected to give the exchange a stronger foothold in the US, where it has already been making inroads through partnerships with other firms.