Crypto Broker Voyager Digital Sends $121M in Crypto to Exchanges, Sells Ether, Shiba Inu Holdings

Blockchain transaction data by Arkham Intelligence shows Voyager Digital transferred some $121 million of crypto assets to exchanges in February and received some $150 million in USDC stablecoins in the last four days, likely proceeds from sales.

AccessTimeIconFeb 28, 2023 at 1:01 a.m. UTC
Updated Feb 28, 2023 at 4:11 p.m. UTC

Embattled crypto broker platform Voyager Digital has been selling off its cryptocurrency holdings at a fast rate, blockchain intelligence firm Arkham Intelligence tweeted.

Blockchain transaction data by Arkham shows that Voyager transferred at least some $54 million of cryptocurrencies to exchanges Coinbase and Binance.US in the past week, likely to sell the tokens. It transferred at least $24.7 million of ether (ETH), $12.2 million of shiba inu (SHIB) and $2.5 million of Chainlink’s LINK to exchanges through the last seven days, per Arkham's data.

The crypto broker’s total deposits to exchanges amount to $121 million since the beginning of February.

Transaction data also shows that Voyager received some $150 million of Circle’s USDC stablecoin from Coinbase in the past four days, likely proceeds from the cryptocurrency sales.

Arkham shows Voyager received $150 million in USDC in the past four days. (Arkham Intelligence)
Arkham shows Voyager received $150 million in USDC in the past four days. (Arkham Intelligence)

Voyager halted all trading and filed for Chapter 11 bankruptcy protection in July. As part of the court proceedings, it agreed to sell itself to Binance.US after an auction. Federal and state regulators' concerns have mounted around the deal, including the U.S. Securities and Exchange Commission (SEC) probing Voyager’s VGX token as unregistered securities offering.

The crypto broker’s recent maneuver may also foreshadow selling pressure for the cryptocurrencies that are among the firm’s largest holdings, notably for ETH and SHIB.

Arkham data shows that Voyager’s largest non-stablecoin crypto holdings are 166,223 of ETH worth $271 million, 6.2 trillion of SHIB tokens worth $77 million and 148.4 million of its own VGX token, valued at some $63 million. Further notable holdings include some $13 million of LINK, $5.5 million of Fantom’s FTM and $5 million of Bored Ape’s APE token.

Voyager crypto addresses hold a total of $697 million worth of cryptocurrencies, including $236 million of USDC stablecoin, according to Arkham.


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Krisztian  Sandor

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.