Voyager Dumps Shiba Inu, Ethereum: Selling $100M Assets Weekly

Lavina Daryanani
Source: Bloomberg

Voyager has been selling assets at a fast pace over the past few days. Watcher Guru reported several such transfers by analyzing blockchain transactions. Now, on-chain data by Arkham revealed that Voyager is currently selling its assets at a rate of $100 million per week. Furthermore, the blockchain intelligence platform noted,

“Currently they hold almost $700M in two very large wallets.”

As illustrated below, the crypto broking platform’s top holdings include Ethereum [worth $268 million], USDC [$236 million], and Shiba Inu [worth $77 million]. It also owns 148.4 million VGX tokens worth approximately $63 million. Other holdings include LINK [around $13 million], FTM [worth $5.5 million], and APE [worth $5 million].

Also Read: Coinbase – Voyager Potentially Converting $100 million to USDC Through Exchange

Other Voyager liquidations

Furthermore, the platform affirmed that Voyager’s aggregate deposits to exchanges summed up to $121 million since the beginning of this month. The broker transferred approximately $54 million in cryptocurrency to exchanges including Coinbase and Binance.US over the last week. It sent at least $24.7 million of Ethereum, $12.2 million of Shiba Inu, and $2.5 million worth of Chainlink.

Arkham’s data further revealed that the firm received about $150 million worth of USDC from Coinbase over the past few days. As reported recently, the firm is likely selling assets via the exchange, and the said inflow points towards the amount received from the sales.

Also Read: Voyager Sends 250 Billion Shiba Inu Tokens to Coinbase Worth $3.4M

In other related Voyager news, the SEC recently opposed Binance.US’s deal to purchase Voyager’s $1 billion worth of assets. The regulatory agency, via its recent court filing, said that the deal could end up being unlawful and discriminatory.

Furthermore, Texas regulators also objected to the proposed deal between Binance.US and the crypto broker. The regulators cautioned that the potential buyer, i.e., Binance.US, might provide securities through its staking program, which would violate the law. They also stressed that the deal might not benefit Voyager’s creditors.

Also Read: Binance.US & Voyager’s $1B Deal Opposed by SEC