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.
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.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.