The voyage of Voyager

▪ July 6, 2022 - Voyager files for chapter 11.

▪ September 27, 2022 -Voyager selects FTX as the highest bidder in the auction of its assets.

▪ November 11, 2022 - After FTX files for bankruptcy, Voyager reopens bidding process.

▪ December 19, 2022 – Voyager announces that it has reached an agreement to sell is assets to Binance.US.

▪ February 2, 2023 – SEC objects to Plan to sell assets to Binance noting that “[h]ere, the transactions in crypto assets necessary to effectuate the rebalancing, the re-distribution of such assets to Account Holders, may violate the prohibition in Section 5 of the SecuritiesAct of 1933 against the unregistered offer, sale, or delivery after sale of securities.” Feb 22nd SEC objection (emphasis supplied).

▪ March 8, 2023 – Bankruptcy Court enters Order confirming Plan and overruling SEC objection. Confirmation Order

▪ March 9, 2023 – SEC appeals Confirmation Order.

▪ March 27, 2023 – SEC obtains stay pending appeal from District Court. March 27th Article

▪ April 1, 2023 – Debtors appeal Stay Order to Second Circuit Court of Appeals.

▪ April 11, 2023 – Second Circuit dismisses appeal for lack of appellate jurisdiction. As a result, the parties will brief the issues before the District Court which will ultimately determine whether to affirm or reverse the March 9th Order.

▪ April 18, 2023 – Drop dead date for Voyager/Binance to close transaction.