The now bankrupt company Voyager seems to continue to sell its altcoin holdings. Here are the details…
Voyager sells altcoin holdings
According to Lookonchain, the bankrupt crypto brokerage firm Voyager continues to sell its assets and has reportedly sold a significant portion of its SHIB holdings. Despite this, it holds a substantial amount of 5.17 trillion SHIB, to be precise. This represents an estimated value of $57.78 million. The situation has raised questions about what this means for the value of SHIB. Some think the lender is waiting for a more favorable market before selling the remaining SHIB holdings, while others believe other factors may be at play. On the other hand, coins such as ETH, LINK, STMX and AVAX also attracted attention.
The company holds Ethereum (ETH) worth $233.5 million, and SHIB of $5.17 trillion worth $57.7 million. On the other hand, $10 million Chainlink (LINK) and $7.3 million STMX are in Voyager’s portfolio. Finally, the $6.7 million Avalanche (AVAX) is in the company’s portfolio.
Voyager sold 1,449 $ETH via Wintermute and received 2.25M $USDC 2 hrs ago, the selling price is $1,553.
Voyager is still selling assets and currently holds:
– 148,774 $ETH($233.5M)
– 5.17T $SHIB($57.78M)
– 1.44M $LINK($10M)
– 1.17B $STMX($7.3M)
– 411,052 $AVAX($6.7M)
… pic.twitter.com/VnaJJUh5nv— Lookonchain (@lookonchain) March 5, 2023
The situation has raised questions about what this means for the value of SHIB. While some think the lender is waiting for a more favorable market before selling the remaining SHIB holdings, others believe other factors may be at play. In two cases, 300 billion SHIB were moved by the bankrupt crypto broker to the Coinbase crypto exchange last week. Lookonchain also reported that it transferred $2.24 trillion worth of $28 million from Voyager to Coinbase from mid-February to early March.
Shibarium expectations continue
As the anticipation for the launch of the Shibarium beta version continues, Shiba Inu (SHIB) lead developer Shytoshi Kusama provides various tips to the community with a cryptic tweet, as we have reported as Cryptokoin.com. BunnyVerse Token Official, participating in projects demonstrating support for the Layer 2 solution, announced that it fully supports Shibarium and Shytoshi Kusama’s vision for a decentralized future. Regarding the SHIB burn, a total of 176,920,466 SHIB tokens were burned in the last seven days, while 11,212,649 SHIBs were burned in the last 24 hours.
Voyager’s Binance.US acquisition on the agenda
On the other hand, most Voyager Digital account holders have approved the acquisition of the bankrupt crypto loan firm by Binance US, the United States-based arm of the world’s largest crypto exchange. According to court documents, 97% of account holders with claims against Voyager supported the Binance US restructuring plan, while only 3% rejected it. Binance.US agreed to buy Voyager’s assets for $1.02 billion in December 2022. The Binance.US offering was aimed at returning customers cryptocurrencies following court-approved payments and platform capabilities.
But the Texas State Securities Board and the U.S. Securities and Exchange Commission (SEC) objected to the proposal, citing inadequate disclosure and a possible violation of securities law. The SEC claimed that the plan was unapproved under the US Bankruptcy Act. At the same time, New York State claimed that altcoin company Voyager, which filed for bankruptcy protection in July, was running an unlicensed business.
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