Voyager Moves 300B Shiba Inu To Coinbase, Sells 1.4T SHIB Within 4 Days

Following the latest rally from Shiba Inu, the bankrupt crypto lender Voyager Digital dumped 1.4 trillion SHIB in four days via Coinbase. 

Voyager Digital, the bankrupt crypto lending platform, has continued to dump its crypto holdings, including Shiba Inu (SHIB), on Coinbase. This has drastically reduced the total crypto assets held by the now-defunct company. 

Lookonchain called attention to the latest sales executed by Voyager earlier today. 

Voyager has been selling assets on #Coinbase for the past 4 days and has sold 49 tokens for ~$63M.

Including:

781 $BTC ($23M);
9,570 $ETH ($17.6M);
1.4T $SHIB ($14.4M);
234,660 $LINK ($1.74M);
1.87M $MATIC ($1.27M);
3M $MANA ($1.1M);
… pic.twitter.com/SUGjjQQvja

— Lookonchain (@lookonchain) August 15, 2023

The disclosure revealed that Voyager sold 49 crypto assets on Coinbase over the past four days. It added that the firm had received 845 million USDC from Coinbase over time, with 85 million USDC deposited to Circle. 

In addition to the Shiba Inu tokens, these dumped assets included 781 BTC, 9,570 ETH, 234,660 LINK, 1.87M MATIC, and 3M MANA. Of the $63 million accrued from the latest sales, BTC accounted for $23 million, while ETH accounted for $17.6 million.

Voyager Dumps 1.4T Shiba Inu

In its latest sell-off batch, Voyager also dumped 1.4 trillion SHIB via Coinbase within four days, according to Lookonchain. These token sales were worth approximately $14.4 million.

Etherscan data reveals that Voyager moved 300 billion SHIB to Coinbase on August 14. Recall that the bankrupt crypto lender had moved 250 billion SHIB to the exchange on August 12. 

Following these recent movements, an updated spreadsheet shared by Lookonchain suggested the firm holds zero SHIB tokens. Meanwhile, Vogayer held 2 trillion SHIB as of July. This positioned the firm as Shiba Inu’s 4th largest holder then, as reported by The Crypto Basic.  

Voyager’s SHIB movements and sell-off surfaced amid the double-digit gains posted by the asset in the past weeks. Notably, the 1.4 trillion SHIB dump made less impact on the asset’s price. At press time, SHIB is up over 13% in the past seven days. 

This sustained rally has been attributed to the highly anticipated Shibarium mainnet launch expected to occur this month. Several market participants and fintech specialists believe SHIB could post more significant gains if the layer-2 scaling solutions live up to expectations.