Texas calls $1 billion Voyager and Binance deal unprofitable for customers

Texas regulators have issued their opinion on a potential $1 billion deal between Voyager and Binance. They believe the benefit of the purchase would be cut in half if the court grants the Alameda loan claims.

It would be better for Voyager's creditors if the company liquidates the assets rather than continuing through a deal with Binance US.

"If Alameda proves its claims and seeks compensation, the percentage of reimbursement to creditors could drop from 51% to 24%-26%. That amount is half of what regular customers would get in a Chapter 7 liquidation."