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Bankrupt crypto lender Voyager has defended its $1 billion plan to sell assets to Binance.US, calling criticisms “hypocrisy and chutzpah” based on unverified speculation, two posted late Sunday night show.
The plan has been opposed by Alameda Research, the trading arm of bankrupt crypto exchange FTX, as well as the U.S. Securities and Exchange Commission (SEC), Department of Justice (DoJ) and numerous state-level regulators, with a hearing due to be held at a New York bankruptcy court on Tuesday.
Doubts expressed by the SEC, alongside financial regulators from New York, Texas and Vermont and the U.S. Trustee, the bankruptcy division of the DoJ, about whether Binance.US can afford the deal are “misplaced,” Voyager said.
“Raising Disclosure Statement objections based on unsubstantiated and unverified media reports while ignoring the substantial information already made available to the Objectors is a naked attempt to undermine the Binance.US Transaction and attack Binance.US,” the filing added.
An attempt by Alameda to oppose the agreement on the grounds that it violates the hierarchies of creditors established in the American bankruptcy law is met with even more hesitant acceptance. Alameda's objections "show hypocrisy and audacity at its best" and are "frivolous", Voyager declared. Ftx and alameda had already tried to bail out traveling, before going bankrupt on November. 11.
Voyager "entered into an AlamedaFTX loan only on the basis of false and fraudulent claims by AlamedaFTX," he added, Claiming that the FTX's attempt to buy the Voyager was "an ultimate effort to hide the holes in its own record resulting from their apparent fraud."
FTX's new CEO, John Ray, has criticized its predecessor, Sam Bankman-Fried, for perceived mismanagement and poor record keeping. Bankman-fried entered a not guilty plea to charges of electronic fraud and money laundering.
The deposition also struck at what it called a "hypocritical" position by state regulatory bodies, that objected to a scenario where Vermont residents, New York, Texas and Hawaii would receive cash payments while other countries would receive cryptography.
They object to account holders in their jurisdiction receiving cash when this would be their own regulatory decisions (unless they decide to provide fairly clear information, basic adaptation measures for their own citizens) creating this outcome," said the tabling.
Travel – supported by a committee representing its creditors – said that the BINANCE agreement represents the best option available to those who owe money through succession in a volatile crypto market, and said there were still loopholes in the transaction if a better option was identified later.
Read more: Binance.The United States agrees to acquire the assets of Voyager for $1.02 billion.
