A sunken cryptocurrency company has been making heavy sales lately. Here are the latest moves from the sunken crypto company Voyager…
Selling strategy of sunken crypto company Voyager draws attention
According to a recent development, Voyager, once a key player in the cryptocurrency lending industry, has been actively dealing with crypto asset sales for the past four days. Data from reputable data provider Lookonchain reveals that Voyager’s sales efforts have continued since the US bankruptcy court sanctioned the asset sales a few months ago. Voyager’s crypto-asset sales on Coinbase have attracted a lot of attention due to their scale and impact on the market. The company has successfully sold a total of $63 million worth of crypto assets in the past four days alone. Here is a breakdown of assets sold:
- 781 BTC (approximately $23 million)
- 9,570 ETH (approximately $17.6 million)
- 1.4 trillion SHIB (worth $14.4 million)
- 234,660 LINK (worth $1.74 million)
- 1.87 million MATIC (worth $1.27 million)
- 3 million MANA (worth $1.1 million)
Voyager has received 84.5M $USDC from #Coinbase and deposited 85M $USDC to #Circle in total.
Voyager currently holds $11.3M worth of assets, including:
52.4M $VGX($8.27M);
55 $BTC($1.62M);
537K $KNC($371K);
1.18 $FTM($286K);
20.7M $STMX($140K);
4.85M $GALA($111K);
… pic.twitter.com/e72uF6Rqn0— Lookonchain (@lookonchain) August 15, 2023
What’s left of Voyager?
According to Lookonchain, the total assets remaining in Voyager’s holdings amount to approximately $11.3 million. It includes:
- 52.4 million VGX ($8.27 million)
- 55 BTC ($1.62 million)
- 537,000 KNC ($371,000)
- 1.18 FTM ($286,000)
- 20.7 million STMX ($ 140,000)
- 4.85 million GALA ($111,000)
Voyager’s decision to sell its crypto assets on Coinbase has been significant for the market. The company launched these sales a few months after receiving approval from New York’s bankruptcy court. The sales were made through the Coinbase exchange and included a wide variety of assets beyond those mentioned above. It is noteworthy that Voyager generated $84.5 million from these sales and subsequently invested in Circle.
What had happened?
It is worth remembering that Voyager faced financial difficulties and filed for bankruptcy in July of the previous year. Despite this setback, New York bankruptcy court approved Voyager’s asset sale plan in March, marking a pivotal moment for the company’s restructuring efforts. The possible sale of Voyager to Binance.US is pending regulatory approval, although the court has authorized the transaction. As we have also reported as Kriptokoin.com, the company’s actions have ripple effects in the cryptocurrency market. Traders closely monitor the company’s activities to gauge their impact on market dynamics and asset valuations.
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