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

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


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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.

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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.

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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.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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