NewsletterVoyager Selling ETH, SHIB, LINK, VGX After Binance.US Wins Court Approval
Beleaguered crypto lender Voyager Digital is selling crypto assets including Ethereum, Shiba Inu, Chainlink, and Voyager Token. The move comes after the court approves the sale of Voyager assets to Binance.US, a subsidiary 0f Binance.
Lookonchain on March 9 revealed that Voyager has sold crypto assets worth over $56 million to Binance.US, Coinbase, and Wintermute Trading in the past 24 hours. Top transfers include 27,255 ETH ($42 million), 11 million VGX ($6.3 million), 400 billion SHIB ($4.4 million), and 160,000 LINK ($1 million).
The Voyager-linked wallet also received 33.7 million USDC from Wintermute Trading, Binance.US, and Coinbase. It received 25 million USDC from Coinbase. Voyager continues to sell crypto assets for the last few weeks. It grabbed community attention after it moved over 250 billion Shiba Inu (SHIB) tokens to Coinbase.
Voyager Digital still holds $757.8 million worth of assets including 459.8 million USDC, 102,306 ETH, 122.4 million VGX, and 4 trillion SHIB.
Court Approves Binance.US Bid to Buy Voyager Assets
Michael Wiles, bankruptcy judge at the District Court for the Southern District of New York, approved Binance.US to acquire Voyager assets.
The judge ruled that Binance.US deal gives more benefit to impacted Voyager creditors. If the court gives a final approval, Binance will acquire Voyager. However, Voyager needs to decide whether to complete the deal or liquidate holdings to give back money to Voyager customers.
Binance.US deal will help customers recover 73% of the crypto assets they own before the bankruptcy. The judge also ruled that no U.S. agencies will oppose the issuance of a bankruptcy token planned by Voyager.
Some believe the recent sale of crypto assets by Voyager is part of the court order and Voyager will reimburse money to customers. Binance is currently facing regulatory hurdles in the U.S.
Also Read: Shiba Inu Releases Key Warning Ahead Of Shibarium Launch Date
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