Bankrupt crypto lender Voyager is sending massive quantities of crypto property to Coinbase because the agency continues to cope with its distressed steadiness sheet.
Based on blockchain intelligence agency Arkham, Voyager has been promoting roughly 9 figures value of its property every week.
Amongst Voyager’s largest holdings are Ethereum (ETH), USDC, and Shiba Inu (SHIB).
Arkham’s information exhibits 300 billion SHIB value about $3.85 million flowing out of Voyager’s pockets and into Coinbase, presumably to promote.
“Voyager persevering with to promote property at a fee of round $100M/week.
Presently they maintain nearly $700M in two very massive wallets.
Their prime holdings:
$268M ETH
$236M USDC
$77M SHIB”
Earlier this month, blockchain safety agency Peckshield reported that Voyager despatched 250 billion SHIB value about $3.4 million on the time.
Peckshield launched a picture tracing the trail the crypto took on its option to Coinbase.
Based on on-chain monitoring agency Lookonchain, Voyager has already despatched 2.24 trillion SHIB, plus many different altcoins to Coinbase because the 14th of February.
“Listed below are the property transferred from Voyager to Coinbase since Feb 14th.
- 2.24 trillion SHIB ($28 million)
- 15,635 ETH ($25 million)
- 28.5 million VGX ($12.85 million)
- 640,000 LINK ($4.74 million)
- 7.75 million OCEAN ($3 million)
- 350,000 UNI ($2.28 million)
- 3.26 million MANA ($2.15 million)
- 4 million ENJ ($1.88 million)
- 2.3 million SAND ($1.64 million).”
Voyager filed for chapter in July of 2022, citing the failure of former crypto hedge fund Three Arrows Capital to pay $650 million in loans.
The agency was in the end acquired by Binance.US late final yr in a $1 billion deal.
At time of writing, SHIB is buying and selling at $0.0000124, down 3% on the day.
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