The bankrupt cryptocurrency company dumped a large amount of coins on three separate exchanges. This triggered concerns about whether the sale was coming. Here are the details…
Cryptocurrency company transferred 270 billion SHIB
Unexplained Shiba Inu transfer raises concerns on crypto Twitter. Bankrupt crypto lender Voyager sent 270 billion SHIB to Coinbase, Kraken and Binance.US in three 90 billion transactions. Crypto analytics platform Lookonchain took to Twitter to explain the development today and shared a link to the transaction details. Transfers took place about 12 hours ago. According to the screenshot, the first transfer went to the address Lookonchain labeled as the Binance.US deposit address. According to Lookonchain and data on Voyager, the currently inactive crypto lender still has 6.8 trillion SHIB.
The reason for this transfer is unknown and Voyager is not yet responding to requests for comment. Not surprisingly, the crypto community wasn’t too happy about this. Many people think that the crypto company wants to monetize the latest market rally to pay back creditors. In addition, it also ignited fears of a Shiba Inu sale, which could negatively affect its price. The token is trading at $0.000012, up 2.91 percent in the last 24 hours in line with the wider market rally following the Fed’s rate hike decision.
Binance.US expected to buy Voyager
cryptocoin.com As we reported, Voyager filed for bankruptcy in July after the collapse of the Terra ecosystem, which created a ripple effect on the entire crypto space in May. Currently, the US arm of leading crypto exchange Binance is Binance. The US is expected to buy Voyager with a cash payment of $20 million. In addition, with the purchase agreement, Voyager customers will be transferred to the crypto exchange. Voyager will pay users with the sale, according to a report published by Reuters in early January, revealing that the judge gave its first approval to the deal. He estimates the sale will allow customers to get back 51 percent of their deposits at the time of filing for bankruptcy.
However, it is worth noting that the agreement is not final and will go to court at a later date. Although it is emphasized that the exchange acts independently from the international platform Binance, Binance.US is facing questions from the regulators. The exchange is facing resistance from the U.S. Securities and Exchange Commission, which said it was dissatisfied with its announcement, and the U.S. Committee on Foreign Investments (CFIUS), which believes it should examine the deal for national security risks. Notably, Voyager initially had a deal with FTX for its assets. However, the sale fell through after the collapse of FTX and fraud allegations against its founder, Sam Bankman-Fried.
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