According to data obtained by cryptocurrency data analytics platform Lookonchain, bankrupt crypto lender Voyager Digital sold some of its crypto assets, including popular meme coin Shiba Inu (SHIB), last month. In return, he received a surprisingly large sum in USDC. Here are the details…
Voyager Digital raises $610 million from SHIB and altcoin sale
In total, Voyager received around 610 million USDC for selling SHIB, Ethereum, VGX and other cryptos. From this amount, the company sent 150 million USDC to the stablecoin issuer Circle. Earlier this month, cryptocoin.com As we reported, the crypto brokerage firm sold roughly 1.6 trillion Shiba Inu in three parts, sending 400 billion SHIB and 800 billion SHIB to various major crypto exchanges, including Coinbase and Binance, respectively.
The company liquidated LINK, SUSHI, COMP, and MKR, among other crypto assets. As reported, a US court had confirmed that Binance US could purchase Voyager’s distressed assets for $1.3 billion, despite the US Securities and Exchange Commission (SEC) agency objecting to the deal. However, that ended when the CFTC sued Binance.
Binance deal suspended
The BinanceUS-Voyager deal appears to have stalled for now, with Binance and its leader CZ being sued by the CFTC this week. Although a federal judge in the USA has already approved the agreement between the two parties; Re-suspension of the agreement may lead to some developments. Because the opponents of this agreement may evaluate their objections to the agreement more and gain time.
Binance was sued for allegedly breaking US laws regarding spot and derivatives trading by allowing US citizens to participate despite the ban. CZ responded to this on Binance’s blog the other day, saying that Binance is blocking US citizens from opening accounts. However, its subsidiaries insist that Binance US abides by all necessary laws and cooperates with US regulators on these matters.
Voyager Digital Ltd, which went bankrupt in mid-2022, was a publicly traded cryptocurrency brokerage firm that allowed investors to buy and trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Binance.US, on the other hand, is a cryptocurrency exchange that allows traders to trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and Ripple. The exchange can also be viewed as the US arm of Binance. However, Changpeng Zhao recently underlined that the two exchanges are completely different.
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