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Voyager Sells Crypto Assets Through Coinbase, Suggests On-Chain Data

Published on

February 26, 2023
Read Time:1 Minute, 48 Second

Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 chapter in July 2022, is reportedly promoting property via crypto alternate Coinbase. On-chain knowledge means that Voyager obtained at the least $100 million in USD cash (USDC) in three days as of February 24.

Since Valentine's Day, February 14, Voyager has been sending crypto property to Coinbase virtually each day, claims on-chain analyst Lookonchain. The investigation exhibits that Voyager transferred hundreds of thousands of {dollars} utilizing a combined bag of cryptocurrency tokens, together with Ether (ETH), Shiba Inu (SHIB), and Chainlink (LINK).

1/ It appears so #Traveller sells property via #coinbase.

We seen that #Traveller has obtained $100M USDC from #coinbase within the final 3 days.

And #Traveller despatched property to #coinbase virtually each day from 14.02.https://t.co/VW8o8dBQtqhttps://t.co/qbHt0r7VNG pic.twitter.com/kfxF6rwHFk

— Lookonchain (@lookonchain) February 26, 2023

Lookonchain revealed Voyager's use of 23 tokens price over $100 million. The picture under exhibits a listing of tokens with their worth in US {dollars}. Nonetheless, Coinbase has not but responded to Cointelegraph's request for remark to verify the legitimacy of the declare.

Checklist of tokens offered by Voyager on Coinbase. Supply: Lookonchain

Regardless of the sell-off, Voyager holds almost $530 million in crypto, with the biggest holdings in Ether ($276 million) and Shiba Inu ($81 million).

Associated: Voyager collectors serve a subpoena on SBF to seem in courtroom for a "distant deposit."

Amid the alleged sell-off of funds, america Securities and Change Fee (SEC) objected to Binance.US' transfer to amass over $1 billion in property from Voyager.

In a February 22 submitting with the U.S. Chapter Courtroom for the Southern District of New York, the SEC acknowledged:

"Nonetheless, Debtors (Binance.US) have but to exhibit that they'd be capable of impact such gross sales in accordance with federal securities legal guidelines."

The submitting highlights considerations in regards to the legality and talent to conduct a proposed asset restructuring via the acquisition. There may be additionally the query of whether or not Voyager debtors can get better a few of their property after the corporate's chapter.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : February 26, 2023
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