Voyager Digital, the centralized finance platform (CeFi) who filed for Chapter 11 bankruptcy in July 2022, reportedly is selling assets through the Coinbase cryptocurrency exchange. The on-chain data suggests that Voyager received at least $100 million worth of USD Coin (USDC) in three days, starting February 24.
Since Valentine’s Day, February 14, Voyager has sent crypto assets to Coinbase on an almost daily basis., alleges on-chain analyst Lookonchain. Research shows that Voyager transferred millions of dollars using a variety of cryptocurrency tokens, including Ether (ETH), Shiba Inu (SHIB), and Chainlink (LINK).
1/ It seems that #voyager is selling assets through #Coinbase.
We noticed that #voyager has received $100M USDC from #Coinbase in the past 3 days.
and #voyager you sent assets to #Coinbase almost every day from Feb 14.https://t.co/VW8o8dBQtqhttps://t.co/qbHt0r7VNG pic.twitter.com/kfxF6rwHFk
— Lookonchain (@lookonchain) February 26, 2023
1/ It seems that #Voyager is selling assets through #Coinbase.
We just noticed that #Voyager has received $100M in USDC from #Coinbase in the last 3 days.
And #Voyager has sent assets to #Coinbase almost every day since February 14.
Lookonchain Revealed Voyager Use of 23 Tokens, Valued at Over $100 Million. The image below shows a list of tokens with their value in US dollars. However, Coinbase has yet to respond to Cointelegraph’s request for comment to confirm the legitimacy of the claim.
Despite the sale Voyager owns nearly $530 million in cryptocurrency, with the largest holdings in Ether (276 million) and Shiba Inu (81 million)..
In the midst of the alleged sale of funds, the United States Securities and Exchange Commission (SEC)for its acronym in English) Opposed Binance.US’s Move to Acquire More Than $1 Billion of Voyager-Belonging Assets.
In a brief filed on February 22 with the Bankruptcy Court for the Southern District of New York, the SEC stated that:
“However, the debtors (Binance.US) have yet to demonstrate that they would be able to make such sales pursuant to federal securities laws.”
The statement highlights the concerns about the legality and ability to carry out the planned asset restructuring through the acquisition. He also questions whether Voyager’s debtors can recover part of their assets after the company’s bankruptcy.
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