US Gov appealing Bankruptcy Judge's approval of Voyager sale to Binance US is pathetic. The gov is actively trying to prevent people from being made whole. "Protecting investors" is nothing but a smokescreen

The US gov just appealed the Bankruptcy Judge's decision to approve Voyager's sale to Binance.

Under the approved sale, Voyager’s customers would see an estimated 73% recovery in dollar terms. 97% of Voyager's customers are in favor of the decision.

Yet, the US gov after trying to block it in bankruptcy court and being overruled, is now taking this to appeals court.

If the deal is blocked, Voyager assets will have to be liquidated and they are likely to get a much lower recovery amount.

These are the words of the judge:

"Things have to be done. We have creditors who are waiting and who in the midst of all of this uncertainty have no access to property in which they’ve invested, in some cases, their life savings, so we have to take some kind of action"

This appeal has major repercussions for all the other bankruptcy proceedings as well - Celsius, FTX and any others - it simply says if the party acquiring assets and bailing out customers is not favorable to the government, they will try to block the deal. It doesnt matter if no party or company favorable to the government wants to pick up the tab. In that case, the government will rather let people suffer than allow the sale to an entity they dont favor

Creditors stuck in these bankruptcy proceedings are at the mercy of a government that is visibly anti-crypto and opposed to any kind of relief for the creditors.

No action of the government is aimed at "protecting investors", unlike what frauds like Gary Gensler trumpet at every occasion. In this case, its plainly obvious - investors have their funds stuck with Voyager, the Bankruptcy Judge found Binance US deal acceptable and entered an order finalizing the deal, yet the government seeks to appeal and block it knowing well that the alternative remedy for creditors involves getting a much smaller payout after additional delay that could stretch to several months if not years.