Voyager Continues Liquidating Crypto Assets for Circle’s USDC Stablecoin
Amid its ongoing bankruptcy case, Voyager has liquidated more than $80 million since March 8, according to on-chain data sourced from Arkham Intelligence.
Mar 9, 2023 at 9:39 p.m. UTC
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Since March 8, bankrupt crypto broker Voyager Digital has received almost $86.8 million in USD coin (USDC) and sent nearly $82.5 million in crypto tokens to various addresses belonging to exchanges.
Voyager’s latest liquidations came amid a broader 5.6% drop in the value of the crypto markets, as measured by the CoinDesk Market Index. The actions come on the heels of a bankruptcy judge approving Binance.US’ acquisition of Voyager’s assets.
Voyager’s three largest liquidated assets in the past day include roughly $58.1 million in ether (ETH), $10.9 million in shiba inu (SHIB) and $7.2 million in Voyager's own VGX token at press time. The addresses it used primarily belonged to Coinbase, Binance.US and Wintermute, per blockchain analytics firm Arkham Intelligence.
“Up to now, Voyager has sold off $358.52 [million] worth of crypto-assets, with around $271.5M remaining to liquidate. They have received a total of $407.34 [million] USDC over the past 3 months,” Arkham Intelligence said in a tweet.
The price of VGX currently stands at 38 cents, sliding almost 32% in the past 24 hours.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/fa7364e5-d29e-4eb7-bb6b-181a5a7ec0eb.png)
Sage D. Young was a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.