Crypto News & Watchlists

Voyager Liquidates 400,000,000,000 Shiba Inu on Coinbase As the Embattled Lender’s Selling Spree Gathers Steam

New data reveals that bankrupt crypto lender Voyager Digital just moved hundreds of billions of meme token Shiba Inu (SHIB) from Coinbase.

According to the blockchain-tracking platform Lookonchain, Voyager’s most recent sell off includes the liquidation of 400 billion SHIB worth about $4.4 million.

In addition to the large SHIB transaction, Voyager also unloaded 27,255 Ethereum (ETH) valued at $42 million, 11 million Voyager Token (VGX) valued at $6.3 million and 160,000 Chainlink (LINK) valued at $1 million.

“Voyager keeps selling assets! Voyager sold $56 million worth of assets in the past 24 hours, including:

  • 27,255 ETH ($42 million)
  • 11 million VGX ($6.3 million)
  • 400 billion SHIB ($4.4 million)
  • 160,000 LINK ($1 million)”

Lookonchain also notes that Voyager just received total of 33,700,000 USD coin (USDC) from Wintermute Trading, Binance US and Coinbase.

Source: Lookonchain/Twitter

The blockchain-tracking platform provides a list of the $757.8 million worth of assets Voyager still has on hand, including a total of 459.8 million USDC.

“Voyager currently holding $757.8 million worth of assets, including:

  • 459.8 million USDC
  • 102,306 ETH ($157.7 million)
  • 122.4 million VGX ($61.7 million)
  • 4 trillion SHIB ($44.2 million)
  • 1.28 million LINK ($8.5 million)
  • 8.95 million MANA ($4.9 million)
  • 6.6 million FTM ($2.4 million)
  • 454,805 APE ($2 million)
  • 3.44 million SAND ($2 million)
  • 3.9 million ENJ ($1.55 million)
Source: Lookonchain/Twitter

Voyager has conducted similar transactions in recent weeks. Other notable ones include moving 250 billion SHIB worth about $3.4 million to Coinbase and shifting 15,000 Ethereum worth $25.3 million to both Coinbase and Binance, the world’s largest crypto exchange platform by volume.

Last July, Voyager was forced to shut down customer withdrawals and deposits after crypto firm Three Arrows Capital was unable to pay back a loan worth hundreds of millions of dollars.

Voyager eventually filed for bankruptcy and came to an agreement to sell its assets and transfer its customers to Binance.US. The deal is not yet final, but it just cleared one big hurdle after U.S. Bankruptcy Judge Michael Wiles approved the deal, according to Reuters.

Shiba Inu is trading for $0.0000100 at time of writing.

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The post Voyager Liquidates 400,000,000,000 Shiba Inu on Coinbase As the Embattled Lender’s Selling Spree Gathers Steam appeared first on The Daily Hodl.

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