Bankrupt crypto lender Voyager Digital has denied claims by the U.S. Securities and Exchange Commission that its VGX token is a security, as it seeks court approval for a $1.02 billion buyout offer from Binance.US. Separately, in court filings late Friday, an attorney with the U.S. Department of Justice proposed Sam Bankman-Fried’s bail conditions should restrict his use of the internet, including the use of a non-internet-connected flip phone.

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This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”

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