SEC Blocks Binance-Voyager Deal with Deeper Intentions, Says Cramer

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SEC Blocks Binance-Voyager Deal with Deeper Intentions, Says Cramer
  • Jim Cramer tweeted that SEC prevents Binance from closing its deal with Voyager Digital.
  • Cramer added that the SEC is worried that Binance will prove to be more chimerical.
  • The TV host’s tweet was in response to the limited objection of the SEC to Binance.US’s decision to buy the assets of Voyager Digital.

Jim Cramer, the American television personality and the host of Mad Money on CNBC, tweeted that the US Securities and Exchange Commission (SEC) prevents Binance from closing the company’s deal with the crypto platform Voyager Digital.

Cramer tweeted that the SEC is “very worried that Binance will prove to be more chimerical than we think”:

Significantly, Cramer’s tweet is in response to the SEC’s filing of the “limited objection” to the decision of the US branch of the leading crypto platform Binance, Binance.US, to acquire the assets of the bankrupted Voyager Digital.

Notably, in December 2022, Binance.US announced its plans to buy the bankrupted assets of Voyager Digital for more than $1 billion. Soon, after reviewing the proposal, Voyager Digital responded positively, acknowledging Binance.US’ representation as the “highest and the best bid for its assets”.

However, on January 4, SEC filed an objection against the deal pointing out certain concerns including the lack of details regarding Binance.US’s funding resources, and the security of the customers’ assets during and after the transaction.

Notably, Jim Cramer commented that he “just don’t want people to lose money needlessly”. He added that he doesn’t like crypto and that “its defenders are too strident about its need”.

However, commentators responded actively to his comment, some criticizing him for blaming crypto and others questioning him for his crypto holdings.

It is significant to note that Cramer wasn’t the first person to question the deeper intentions of SEC in limiting the Binance.US- Voyager Digital bond. The crypto attorney and the founder of CryptoLaw, John E Deaton tweeted today morning that he suspects the SEC’s objection is “a sign of a future lawsuit”.

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