2 months ago 2 min read

Alameda's Opposition to its Binance Acquisition is Branded As "HYPOCRITICAL" by Voyager


Voyager criticized the hypocrisy of the positions taken by authorities in Vermont, New York, Texas, and Hawaii over the "unfair treatment" of locals.

Voyager, a bankrupt cryptocurrency lender, called Alameda's opposition to Binance.US' offer to purchase its assets "hypocrisy and hubris."

The insolvent cryptocurrency trading company, according to Voyager, has "desperately endeavored to undermine and sabotage" its reorganization efforts. The lender claimed that Alameda intended to undermine its businesses by making a lowball proposal in an effort to get ahead of its marketing approach.

Alameda made "last-ditch measures to disguise the flaws on its own financial sheet resulting from their [Alameda's] apparent fraud," according to the court document, which cited recent findings in the cryptocurrency field.

In light of the fact that FTX's counsel evaluated and cleared these intercompany claims two months prior, Voyager continued, Alameda's objections to the level of disclosure on specific intercompany claims were "baseless." In addition, a competent court has endorsed the same claims.

Voyager claimed that it entered into the Alameda-FTX loan on the basis of deceptive and false claims made by the now-defunct cryptocurrency company.

Voyager reacts to the SEC and others

Voyager also replied to the protests made by the various U.S. regulatory agencies in Vermont, Texas, New Jersey, and other states. the SEC, and the trustee.

Regulators' worries about Binance.US' capacity to complete the purchase are unfounded, according to the court document, because they are based on "speculation" rather than "facts," and Voyager added that the worries are also "veiled attempts" to influence its business judgment.

Voyager penned:

“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 company also stated that Binance.US offered all objectors the chance to receive financial statements and other due diligence studies demonstrating the company's sound financial position. The objectors, however, have pretended to be unaware of this fact.

Voyager also drew attention to the hypocrisy of the positions taken by authorities in Texas, Hawaii, Vermont, and New York.

The regulators claim that Binance offer US's to pay its residents back in cash rather than cryptocurrency amounts to "unfair treatment."

Voyager's response, however, was that the choice was made based on their own "regulatory decisions."

“Any barriers in place preventing their constituents from receiving distributions in-kind like other states is entirely of the objecting states’ own making.”
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