Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 chapter in July 2022, is reportedly promoting belongings by the Coinbase crypto change. On-chain information recommend that Voyager obtained at the least $100 million in USD Coin (USDC) in three days, beginning Feb. 24.
Since Valentine’s Day, Feb. 14, Voyager has despatched crypto belongings to Coinbase on an virtually every day foundation, alleges on-chain analyst Lookonchain. The investigation reveals that Voyager transferred hundreds of thousands of {dollars} utilizing a combined bag of cryptocurrency tokens, together with Ether (ETH), Shiba Inu (SHIB) and Chainlink (LINK).
1/ Plainly #Voyager is promoting belongings by #Coinbase.
We observed that #Voyager has obtained 100M $ USDC from #Coinbase previously 3 days.
And #Voyager has despatched belongings to #Coinbase virtually day-after-day from Feb 14.https://t.co/VW8o8dBQtqhttps://t.co/qbHt0r7VNG pic.twitter.com/kfxF6rwHFk
— Lookonchain (@lookonchain) February 26, 2023
Lookonchain revealed Voyager’s use of 23 tokens, valued at over $100 million. The picture beneath reveals an inventory of tokens with their worth in U.S. {dollars}. Nevertheless, Coinbase has not but responded to Cointelegraph’s request for remark to substantiate the declare’s legitimacy.
Regardless of the sell-off, Voyager holds almost $530 million in crypto, with the most important shares in Ether ($276 million) and Shiba Inu ($81 million).
Associated: Voyager collectors serve SBF a subpoena to look in courtroom for a ‘distant deposition’
Amid the alleged sell-off of funds, the USA Securities and Alternate Fee (SEC) objected to Binance.US’ transfer to amass over $1 billion of belongings belonging to Voyager.
In a Feb. 22 submitting submitted to the U.S. Chapter Courtroom for the Southern District of New York, the SEC said:
“Nevertheless, the Debtors (Binance.US) have but to show that they might be capable to conduct such gross sales in compliance with the federal securities legal guidelines.”
The submitting highlights considerations over the lawfulness and skill to undertake deliberate asset restructuring by the acquisition. It additionally questions whether or not Voyager debtors can recoup a few of their belongings following the agency’s chapter.
