๐๏ธ Good morning once again! We'll be covering Day 4 with LIVE updates of the @investvoyager / @BinanceUS confirmation hearing here in the thread below ๐งต๐. We anticipate today to be the final day where Judge Wiles will speak his rulings, at 2:00pm EST. #Voyager #Binance #FTX. ๐๏ธ
If you missed it, Here's the previous Day 3:
https://twitter.com/VGX_Heroes/status/1632747179667333121?t=evoroMoauJeNXmu3Zlth7Q&s=19
Previous Day 2:
https://twitter.com/VGX_Heroes/status/1631672342983110656?t=evoroMoauJeNXmu3Zlth7Q&s=19
And previous Day 1:
https://twitter.com/VGX_Heroes/status/1631310089855303681?t=evoroMoauJeNXmu3Zlth7Q&s=19
๐๏ธ Court is now in session and awaiting opening remarks. ๐๏ธ
๐๏ธ There will be a 2 week period for customers to opt out of the transfer of personal information to Binance.
Now discussing which data specifically. So far, photo and bank account mentioned, but not SSN.
#Binance rep says, "Data is at the heart of the deal."
...WTF? ๐๏ธ
Now discussing which data specifically. So far, photo and bank account mentioned, but not SSN.
#Binance rep says, "Data is at the heart of the deal."
...WTF? ๐๏ธ
๐๏ธ #Binance rep arguing that their purchase agreement was heavily based on acquiring data. They don't care about photo ID or bank account numbers. They want the SSN's.
Opinion: Really showing their true colors. This deal was never about helping customers or the industry. ๐๏ธ
Opinion: Really showing their true colors. This deal was never about helping customers or the industry. ๐๏ธ
๐๏ธ Judge says, "I absolutely disagree that you need Voyager customers' SSN if they elect to opt out of being a #Binance customer. If later, they decide they want to become a Binance customer, you can easily just plug that information in when they provide it." ๐๏ธ
๐๏ธ Judge reads his own proposal. Says if he approves this plan, no government agency, that has not provided evidence or clarity, can come back later and say what's been done is illegal or prosecute them.
Texas AG and other states agree. ๐๏ธ
Texas AG and other states agree. ๐๏ธ
๐๏ธUS Attorney argues with the proposal.
Judge says, (paraphrase) "That's ridiculous. Preposterous! Don't you dare tell me you are standing here, saying that you reserve the right to put someone in jail after the fact, for something I have ordered, having not provided evidence."๐๏ธ
Judge says, (paraphrase) "That's ridiculous. Preposterous! Don't you dare tell me you are standing here, saying that you reserve the right to put someone in jail after the fact, for something I have ordered, having not provided evidence."๐๏ธ
๐๏ธ Judge thanks the Pro-Se creditors for their participation, and the unusual amount of work and energy they have out into this case compared to other cases he has ruled on. Says he appreciates what they have done for their fellow creditors. ๐๏ธ
๐๏ธ Judge re-confirms that he has received absolutely no evidence that @BinanceUS has misused customer funds, or anything else in a malicious fashion, and anything provided has simply been hearsay. Says that objections by the SEC remain unproven. ๐๏ธ
๐๏ธ Judge talks about the necessity to resolve this case.
(Paraphrase) "Customers have been without access to assets for months, nearly a year, and recovery is bleeding away with each day that it continues." ๐๏ธ
(Paraphrase) "Customers have been without access to assets for months, nearly a year, and recovery is bleeding away with each day that it continues." ๐๏ธ
๐๏ธ Judge is now reading his rulings, by first providing all of the reasons why, per his findings, in great detail, before the actual ruling. ๐๏ธ
(This is way too much to tweet, with excessive repeat of prior information. Will update when a substantial announcement is made.)
(This is way too much to tweet, with excessive repeat of prior information. Will update when a substantial announcement is made.)
๐๏ธJudge has paused to allow Binance rep to explain the levels of security for KYC and why the customer SSN's are important.
1st level: Name, DOB, Address, SSN
2nd level: Photo ID, Bank Info, etc.
Additionally customer's can request deletion of their data after account creation.๐๏ธ
1st level: Name, DOB, Address, SSN
2nd level: Photo ID, Bank Info, etc.
Additionally customer's can request deletion of their data after account creation.๐๏ธ
๐๏ธ Judge now going over releases again. Does not agree with the full scope as proposed. They will be revised.
If a customer believes they were mislead, damaged, injured, etc, they retain the right to pursue these claims against the Debtor. ๐๏ธ
If a customer believes they were mislead, damaged, injured, etc, they retain the right to pursue these claims against the Debtor. ๐๏ธ
๐๏ธ Judge has finished his speech. It appears he intends to confirm the plan, but there are still some loose ends being finalized. Some states asking for revisions. Some Pro-Se creditors asking for clarification on fees & daily limits for withdrawals should the plan be approved.๐๏ธ
๐๏ธ Despite objections from governmental agencies and states, Judge Wiles APPROVES the confirmation of the plan for @investvoyager & @BinanceUS ! ๐๏ธ
#Voyager #Binance #FTX #Celsius
#Voyager #Binance #FTX #Celsius
๐๏ธ Court has adjourned. ๐๏ธ
๐๏ธ To note: the Toggle plan remains an option if Binance fails to consummate, and exact recovery % is still unknown. It should be expected that there will be at least 3-4 weeks before final closing of the deal, at which point assets can begin to transfer to creditors. ๐๏ธ
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