Voyager, a crypto lender which went bankrupt last year, signed an agreement to be acquired by Binance.US in December.
But the U.S. Securities and Exchange Commission (SEC) and the New York Department of Financial Services later opposed the deal.
At a court hearing on Thursday, a U.S. bankruptcy judge criticized the SEC for its vague objections to the proposed acquisition.
"We are still in support of the deal and helping returning funds to users as quickly as possible, if allowed to do so," Zhao tweeted.
In an earlier tweet on Friday, Zhao had signaled the possibility of calling off the deal.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
