Voyager Digital has been busy in latest months because it appears to be like to promote its remaining crypto holdings on centralized exchanges. In its newest transfer, the bankrupt crypto brokerage has transferred hundreds of thousands in SHIB and ETH to Coinbase. According to on-chain information, Voyager moved SHIB and ETH tokens to Coinbase\u2019s ledger on Friday, August 11.<\/span><\/p>\n Voyager has been promoting off belongings for the reason that starting of the 12 months. Specifically, the most recent on-chain transactions present that Voyager moved a complete of $5.5 million in crypto to Coinbase. The transactions consisted of 1,500 ETH despatched in two transactions.\u00a0<\/span><\/p>\n Before being moved to Coinbase, 1,000 ETH and 500 ETH, with a mixed worth of $2.77 million, had been despatched to separate wallets. Another 250 billion SHIB valued at $2.7 million was then despatched to Coinbase.\u00a0<\/span><\/p>\n On-chain information additionally exhibits that Voyager has been transferring all its token holdings to its main deal with. This probably means the corporate is consolidating its crypto belongings earlier than transferring them to crypto exchanges.<\/span><\/p>\n Bankrupt crypto agency Voyager transferred 1,500 ETH ($2.77 million) and 250 billion SHIB ($2.7 million) to Coinbase. Additionally, Voyager is transferring all remaining tokens to the primary deal with. There are presently about $81.63 million value of cryptocurrency in Voyager addresses.\u2026<\/p>\n \u2014 Wu Blockchain (@WuBlockchain) August 12, 2023<\/a><\/p>\n<\/blockquote>\n Voyager\u2019s aim is to ultimately reimburse all buyer accounts, at the very least partially. The agency went bankrupt final 12 months after the failure of crypto hedge fund Three Arrows Capital which did not repay its $665 million Voyager mortgage. The firm, nevertheless, acquired court docket approval in May 2023 to start winding down its operations and begin repaying prospects a portion of their crypto belongings that\u2019s been locked for over a 12 months.<\/span><\/p>\n According to court docket filings, Voyager had solely about $630 million to pay again $1.8 billion in buyer claims. As a consequence, Voyager customers may solely declare 35.72% of their tokens. They may both withdraw their claims instantly or select to attend for 30 days to be paid in USD after Voyager sells the tokens.\u00a0<\/span><\/p>\n At the time, information from Arkham Intelligence <\/span>showed that<\/span><\/a> Voyager had $268 million in ETH, $236 million in USDC, and $77 million in SHIB. But now that the time for buyer claims is over, Voyager appears to be consolidating its remaining belongings into one deal with earlier than promoting them. According to Arkham Intel, there may be<\/span> currently<\/span><\/a> about $81.63 million value of cryptocurrency left in Voyager addresses.<\/span><\/p>\n The latest transfers of hundreds of thousands of {dollars} in SHIB and ETH tokens from Voyager Digital to Coinbase may sign promoting stress is on the way in which for the 2 cryptocurrencies. If Coinbase unloads these tokens onto the open market, it might drive costs down additional as provide outpaces demand.\u00a0<\/span><\/p>\n SHIB is <\/span>currently on a roll<\/span><\/a> and is up by 15.55% in a 7-day timeframe. ETH, however, is presently ranging round $1,850 after the ETH ecosystem reached a <\/span>milestone recently<\/span><\/a> with the variety of non-zero addresses reaching a brand new all-time excessive.<\/span><\/p>\n Featured picture from Currency.com, chart from Tradingview.com<\/p>\n<\/p><\/div>\nMillions In SHIB And ETH Transferred To Coinbase By Voyager<\/h2>\n
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Looking To Pay Pack Customers<\/h2>\n
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VGX costs tanks as chapter proceedings proceed | Source: VGXUSDT on Tradingview.com\u00a0<\/a><\/pre>\n
What This Means For SHIB And ETH Prices<\/h3>\n