Bankrupt Voyager transfers 250 billion Shiba Inu to Coinbase

New data suggests bankrupt lender Voyager Digital is moving a large amount of Shiba Inu (SHIB) tokens to Coinbase.

according to pec shieldVoyager Digital, a blockchain cybersecurity company, has transferred $28.7 million worth of digital assets to various crypto exchange platforms.

(Source: Pecshield)
(Source: Pecshield)

The distressed crypto firm has transferred 250 billion SHIB tokens worth about $3.4 million to Coinbase and 15,000 Ethereum (ETH) worth $25.3 million to Coinbase, the world’s largest crypto exchange platform by trading volume. Moved to both Binance.

This important move is the future of Voyager Digital and cryptocurrencies, as a large number of entities and wallets associated with bankrupt exchanges move funds on various exchanges and from different exchanges. It has raised questions among industry experts about its potential impact on the market.

“Voyager transferred $28.7 million worth of cryptocurrency [assets] This includes 15,000 ETH ($25.3 million) (1,675 ETH) and 250 billion SHIB ($3.4 million) to Binance.US and Coinbase. Coinbase Voyager received 105,000 ETH from FTX on September 7, 2022 ($1,559 ETH on transfer date).

Voyager Digital Autumn

The collapse of Voyager Digital, once a giant of the cryptocurrency industry, has been long and painful. It all started last July, when another cryptocurrency firm, Three Arrows Capital, was forced to suspend customer withdrawals and deposits after failing to repay loans worth hundreds of millions of dollars. The move marked the beginning of the end for Voyager as it struggled to survive amid mounting legal and regulatory issues.

In September 2022, the now-defunct exchange FTX agreed to buy Voyager’s assets, a deal that Texas regulators ultimately fell through. objected For purchasing FTX.

Finally, in a last-ditch attempt to stave off a complete collapse and disaster for retail investors who had money on the site, Voyager was forced to file for bankruptcy. signed with binance agreed to purchase Voyager’s remaining assets at a discounted price, bringing a dreary end to a once-promising enterprise.

As part of the deal, Binance will pay Voyager a hefty $20 million in cash, in addition to taking over the company’s customer base. Customers who have been unable to withdraw their funds since July will finally be able to withdraw their funds by sending them to the Binance.US cryptocurrency exchange. court in January. ordered be promoted.

Shiba Inu is currently trading at $0.000013 and has a market cap of $7,281,876,226.

Posted In: Exchanges, Tokens

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