Voyager Received $610M USDC From Selling Shiba Inu, & Ethereum

The bankrupt lender still holds 3.1 trillion Shiba Inu (SHIB) tokens and 39,113 Ethereum (ETH).

Bankrupt crypto lender Voyager has received up to $610 million worth of USDC in two separate addresses in the past month. These funds come from the lender’s elaborate selloff campaign which involves multiple assets such as Shiba Inu (SHIB), Ether (ETH), and Voyager Token (VGX).

Most recently, Voyager’s primary address transferred out $150 million worth of the received USDC tokens to Circle in exchange for cash, as highlighted by the blockchain surveillance system Lookonchain today.

Voyager transferred 150M $USDC to #Circle for USD cash 6 hrs ago.

2 addresses of #Voyager received a total of ~610M $USDC by selling tokens like $ETH, $VGX, $SHIB, etc. in the past month.https://t.co/sr3B5YFJDa pic.twitter.com/OYe4K7w5Rb

— Lookonchain (@lookonchain) March 29, 2023

Recall that The Crypto Basic called attention to Voyager’s persistent selloff campaign earlier this month. The lender had dumped a whopping 5.62 trillion Shiba Inu tokens ($67.5 million) at the time of the last report. Moreover, Voyager had received up to $407 million worth of USDC from its selloff till March 10; now, this figure has increased to $610 million across two addresses.

At the time of the previous report, Voyager had a balance of up to 3.87 trillion Shiba Inu tokens in its primary address. The address holds 3.103 trillion tokens, indicating that the lender has offloaded an additional 767 billion SHIB since the last report on March 10.

Two of the most significant transactions involved 270 billion SHIB on March 14 and 290 billion SHIB on March 15. Voyager has also received millions of USDC in several batches from Coinbase and Binance.US. Its total USDC holdings now amount to $480 million following the recent $150 million USDC outflow.

Binance.US and Voyager Acquisition Deal on Hold

The bankrupt lender has continued its selloffs despite the greenlight given to Binance.US by Judge Michael Wiles earlier this month, allowing the exchange to move Voyager’s assets in the $1.3 billion acquisition deal.

Notwithstanding, It is important to note that a federal judge recently temporarily put the acquisition deal on hold to give the government more time to address the multiple appeals against the deal. Several watchdogs, including the DoJ bankruptcy unit, New York regulators, and the SEC, have filed appeals challenging the deal.