Voyager sells 400 billion Shiba Inu tokens on Coinbase

As per data from blockchain analysis service Lookonchain, Voyager lately got a total of 33,700,000 USD Coin from Wintermute Trading, Binance US, and Coinbase

Bankrupt crypto currency lender Voyager Digital has sold off around 400b Shiba Inu ($SHIB) tokens on Nasdaq-listed crypto currency exchange Coinbase, besides other crypto currencies including Ethereum ($ETH), Voyager Token ($VGX), and Chainlink ($LINK).

As per data from blockchain analysis service Lookonchain, Voyager lately got a total of 33,700,000 USD Coin from Wintermute Trading, Binance US, and Coinbase. In spite of these latest transactions, Voyager still holds $757.8m worth of assets, including a total of 459.8m USD Coin and 4t Shiba Inu.

This is not the first time Voyager has conducted big transactions to Coinbase. In recent weeks, the firm moved 300b Shiba Inu worth around $3.4m to Coinbase, and shifted 15,000 Ethereum worth $25.3m to Coinbase as well as Binance.

Since February 14, Voyager has been sending assets to Coinbase on a regular basis. Voyager has moved 2.24t Shiba Inu, worth around $28m, to Coinbase since that date, while still holding a large amount of assets.

Voyager filed for bankruptcy in July last year, and lately saw most of its customers, representing 98 per cent of total claims, favour a revamp plan that will see BinanceUS acquire some of its assets.

Earlier during the week, the company secured court approval to sell its assets and transfer its users to Binance.US, in a deal worth $1.3b, though the company still has to clear additional barriers before the deal is concluded.

US bankruptcy Judge Michael Wiles has approved Voyager’s revamping plan, focussed on the Binance.US acquisition, at a hearing in New York. Binance.US agreed to pay $20m in cash to the lender, and crypto deposited by its users.

Strikingly, most Shiba Inu investors have shown they are not thinking of selling en masse, as the median time that users on Coinbase hold onto the meme-inspired crypto currency before either selling it or moving it to an external address has exceeded the 230-day mark.