1 year ago
Voyager Digital has been engaged successful caller months arsenic it looks to merchantability its remaining crypto holdings connected centralized exchanges. In its latest move, the bankrupt crypto brokerage has transferred millions successful SHIB and ETH to Coinbase. According to on-chain data, Voyager moved SHIB and ETH tokens to Coinbase’s ledger connected Friday, August 11.
Millions In SHIB And ETH Transferred To Coinbase By Voyager
Voyager has been selling disconnected assets since the opening of the year. Specifically, the latest on-chain transactions amusement that Voyager moved a full of $5.5 cardinal successful crypto to Coinbase. The transactions consisted of 1,500 ETH sent successful 2 transactions.
Before being moved to Coinbase, 1,000 ETH and 500 ETH, with a combined worth of $2.77 million, were sent to abstracted wallets. Another 250 cardinal SHIB valued astatine $2.7 cardinal was past sent to Coinbase.
On-chain information besides shows that Voyager has been moving each its token holdings to its superior address. This apt means the institution is consolidating its crypto assets earlier moving them to crypto exchanges.
Bankrupt crypto steadfast Voyager transferred 1,500 ETH ($2.77 million) and 250 cardinal SHIB ($2.7 million) to Coinbase. Additionally, Voyager is moving each remaining tokens to the main address. There are presently astir $81.63 cardinal worthy of cryptocurrency successful Voyager addresses.…
— Wu Blockchain (@WuBlockchain) August 12, 2023
Looking To Pay Pack Customers
Voyager’s extremity is to yet reimburse each lawsuit accounts, astatine slightest partially. The steadfast went bankrupt past twelvemonth aft the nonaccomplishment of crypto hedge money Three Arrows Capital which failed to repay its $665 cardinal Voyager loan. The company, however, received tribunal support successful May 2023 to statesman winding down its operations and commencement repaying customers a information of their crypto assets that’s been locked for implicit a year.
According to tribunal filings, Voyager had lone astir $630 cardinal to wage backmost $1.8 cardinal successful lawsuit claims. As a result, Voyager users could lone assertion 35.72% of their tokens. They could either retreat their claims instantly oregon take to hold for 30 days to beryllium paid successful USD aft Voyager sells the tokens.
At the time, information from Arkham Intelligence showed that Voyager had $268 cardinal successful ETH, $236 cardinal successful USDC, and $77 cardinal successful SHIB. But present that the clip for lawsuit claims is over, Voyager seems to beryllium consolidating its remaining assets into 1 code earlier selling them. According to Arkham Intel, determination is currently astir $81.63 cardinal worthy of cryptocurrency near successful Voyager addresses.
What This Means For SHIB And ETH Prices
The caller transfers of millions of dollars successful SHIB and ETH tokens from Voyager Digital to Coinbase could awesome selling unit is connected the mode for the 2 cryptocurrencies. If Coinbase unloads these tokens onto the unfastened market, it whitethorn thrust prices down further arsenic proviso outpaces demand.
SHIB is currently connected a roll and is up by 15.55% successful a 7-day timeframe. ETH, connected the different hand, is presently ranging astir $1,850 aft the ETH ecosystem reached a milestone recently with the fig of non-zero addresses reaching a caller all-time high.
Featured representation from Currency.com, illustration from Tradingview.com
English (US) 