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HomeCrypto NewsMarketBinance.US Receives Go-ahead to Acquire 4 Trillion Shiba Inu

Binance.US Receives Go-ahead to Acquire 4 Trillion Shiba Inu


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The SHIB tokens are part of the remaining balance of Voyager’s total assets.

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Binance.US has received the go-ahead to acquire bankrupt Voyager’s assets, including nearly 4 trillion Shiba Inu (SHIB) tokens. The exchange recently received the green light for the acquisition deal from Judge Michael Wiles, a U.S. bankruptcy judge, despite stern objections from the SEC, New Jersey, and Texas regulators.

The deal, estimated to be worth over $1 billion, will see BinanceUS procure Voyager’s assets after final approval. Per data from blockchain surveillance resource Lookonchain, Voyager’s crypto assets currently amount to $757.8 million as of press time.

These include 3.99 trillion SHIB valued at $44.1 million. Its SHIB holdings represent the fourth largest single holding on its sheets, only below USDC ($459 million), ETH ($157.7 million), and VGX ($61.6 million).

The current digital asset balance follows a series of sales carried out by Voyager as its bankruptcy proceedings progressed. The latest round of selloffs involved 27,255 ETH at $42 million, 11 million VGX worth $6.3 million, 400 billion SHIB valued at $4.4 million, and 160,000 LINK worth $1 million.

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Most of these selloffs have always involved billions of Shiba Inu tokens. As previously reported, Voyager sold 270 billion SHIB to Coinbase, Kraken, and Binance.US on Feb. 1. The exchange also sold 250 billion SHIB tokens to Coinbase on Feb. 15. Additionally, 300 billion SHIB was also offloaded by the bankrupt lender on March 1. 

Crypto bag holders would hope that Voyager will discontinue its selloff campaign following the latest court approval for Binance.US to obtain its assets.

After Judge Wiles verifies the order, Binance US will have to navigate a series of regulatory hurdles to ensure the proper completion of the agreement. Once finalized, Voyager’s clients will receive their assets via Binance.US accounts, with a projected return of up to 73% of their total holdings.

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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