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Bankrupt Crypto Lender Moves 250 Billion Shiba Inu ($SHIB) in Surprising Transaction
Blockchain News

Bankrupt Crypto Lender Moves 250 Billion Shiba Inu ($SHIB) in Surprising Transaction

In a surprising and speculative transaction, bankrupt cryptocurrency lender Voyager transferred 250 billion Shiba Inu ($SHIB) tokens worth over $3.4 million to Nasdaq-listed cryptocurrency exchange Coinbase.

According to PeckShield, Voyager has moved $28.7 million worth of digital assets to Coinbase and Binance.US, including 15,000 ETH valued $25.5 million. In November, collapsed exchange FTX gave the firm 105,000 $ETH and $150 million.

Voyager transmitted 10,000 ether to Binance.US after the $SHIB transactions, then 5,000 ETH to Coinbase.

Voyager also transferred to Binance US and Coinbase the day before. According to PeckShield, Voyager transmitted 6,000 ETH to Binance US and 1,000 to Coinbase on February 14. Voyager holds 1.6 trillion SHIB worth $23.5 million in Shiba Inu, its second-largest holding.

Voyager may be using the cryptocurrency market boom to liquidate its holdings and pay creditors, according to social media speculations. Rumors are unsubstantiated.

Voyager gained first court approval for a $1 billion sale of its assets to Binance.US in January and said it would expedite a U.S. national security review.

Voyager has received consent from New York bankruptcy court Michael Wiles to sell assets to Binance.US and seek creditor approval. The sale will be finalized after a court hearing.

Binance.US will transfer Voyager customers to its exchange and pay $20 million. Consumers could withdraw monies. Customers will receive 51% of their deposits from Voyager’s bankruptcy sale.

According to CryptoGlobe, Binance’s Proof of Reserves verification system now includes Shiba Inu, Polkadot ($DOT), and other digital currencies.

 

 

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