Voyager sells $56 million in crypto

Bankruptcy crypto company Voyager sold a large amount of cryptocurrency in the last 24 hours after getting court approval of the sale to Binance.US.

Voyager sells $56 million in crypto. Photo: Bloomberg

According to blockchain data statistics by Lookonchaincrypto wallet addresses linked to bankrupt crypto company Voyager have sold $56 million in assets in the last 24 hours.

Liquidated assets include 27,255 ETH ($42 million), 11 million VGX ($6.3 million), 400 billion SHIB ($4.4 million), 160,000 LINK ($1 million), and many other tokens. such as COMP, SUSHI, MRK, etc.

At the same time, Voyager received 33.7 million USDC from market maker Wintermute, Binance.US exchange and Coinbase exchange.

Lookonchain said Voyager still holds $757.8 million in cryptocurrency, with most of it in the form of stablecoins USDC, ETH, and its own VGX token.

Voyager in February has continuously had cryptocurrency sales transactions on many US crypto exchanges to collect USDC, with an estimated value of $ 105 million. The company has yet to make an official announcement about these transactions, but it is likely to fix the value of assets to serve compensation activities for investors who have been stuck on the platform since July. 2022.

On March 8, a New York court judge agreed to let Binance’s acquisition of Voyager for $ 1 billion continue, despite objections from the SEC and the New York state government.

Voyager side – Binance.US may soon announce an investor compensation process, which will most likely require Voyager users to open a trading account on Binance.US to receive their assets back – similar like what FTX suggested when the exchange reached an agreement to buy Voyager before bankruptcy.

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