Cryptocurrency lender Voyager Digital was given the initial approval for a $1 billion sale of its assets to Binance.US Tuesday.
A judge in the U.S. Bankruptcy Court for the Southern District of New York gave the approval with a final sale pending a future court hearing.
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One of the hurdles to the deal being pushed through is the national security review, but Voyager attorney Joshua Sussberg says the company is addressing concerns by the Committee on Foreign Investment in the United States.
“We are coordinating with Binance and their attorneys to not only deal with that inquiry, but to voluntarily submit an application to move this process along,” Sussberg said at a court hearing Tuesday, per Reuters.
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Initially, the crypto lender, which went bankrupt in July 2022, had intended to sell itself to FTX, but the deal fell through when FTX went bankrupt in November 2022.
