Voyager Digital receives US $86.8 million in USDC and sends out US $82.5 million of cryptocurrency

03/10/2023 22:35 • Metaverse Matters • 126 views

It is reported that since March 8, the bankrupt cryptocurrency broker Voyager Digital has received nearly US $86.8 million of USDC and sent nearly US $82.5 million of cryptocurrency tokens to various addresses belonging to the exchange. As of the press release, the three major liquidation assets of Voyager in the past day include approximately US $58.1 million of ETH, US $10.9 million of SHIB and US $7.2 million of Voyager’s own VGX tokens. According to Arkham Intelligence, a blockchain analysis company, the addresses it uses mainly belong to Coinbase, Binance.US and Wintermute. The price of VGX is currently 38 cents, down nearly 32% in the past 24 hours.

Voyager has sold $358.52 million of encryption assets

Analysis based on this information:

The message above reports that Voyager Digital, a cryptocurrency broker, has received almost US $86.8 million in USDC since March 8 and sent out around US $82.5 million of cryptocurrency tokens to various exchange addresses. This information is significant as Voyager Digital recently filed for bankruptcy, and the public have been curious about the status of the firm’s assets.

According to the message, Arkham Intelligence, a blockchain analysis company, has noted that Voyager Digital predominantly uses addresses belonging to Coinbase, Binance.US, and Wintermute. Since these exchanges are significant players in the cryptocurrency ecosystem, it may be inferred that Voyager Digital is liquidating its assets at various locations to pay its creditors, including these exchanges.

Additionally, the message highlights that Voyager Digital’s liquidation assets include approximately US $58.1 million of ETH, US $10.9 million of SHIB, and US $7.2 million of its own VGX tokens. This information may provide further insights into Voyager Digital’s financial status and how it intends to distribute its assets.

The decline in VGX token value may also suggest a lack of market confidence in Voyager Digital’s ability to settle its debts or restructure its business. It may also be an indicator of the broader cryptocurrency market’s volatility and the impact of negative news on individual cryptocurrency tokens.

In conclusion, Voyager Digital’s recent liquidation activity reveals important information about the company’s asset distribution and financial situation. Blockchain analysis companies like Arkham Intelligence play a crucial role in tracking cryptocurrency transactions, providing useful insights into market trends and individual companies’ activities. As cryptocurrency markets evolve and continue to gain mainstream attention, such analysis is becoming increasingly essential to investors and regulators alike.

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