Voyager begins with the sale of crypto-assets on Coinbase
Voyager begins with the sale of crypto-assets on Coinbase
Since Voyager Digital went bankrupt in July 2022, the company has explored various ways to get back on its feet.
Firstly, there was a deal with FTX that won the offer for its assets shortly before the implosion and destroyed this agreement. The FTX Group would actually sue Voyager because of a loan you have paid back and try to reclaim it.deal with Binance US stalls
Since then, Voyager Digital has reached an agreement with Binance Us on his crypto-assets, the latter is ready to pay $ 1.02 billion for the assets of the no longer existing stock exchange. Voyager believers could then be reimbursed by Binance US 51 %. Since then, however, the deal has stalled how the SEC, citing regulatory concerns.
"There are numerous public reports and press reports on investigations against the buyer and his affiliated companies. Regulatory measures, whether with Voyager, Binance.Us or both, could make the implementation of the transactions impossible and make the plan unenforceable."
The alternative to Binance Us's Buyout would be the reimbursement of customers directly from the Voyager Kasse-which would ultimately lead to a lower payment.
However, a third option seems to have been considered: the simple sale of assets.
Voyager sells $ 100 million a week
According to the blockchain analysis company Arkham Intel, Voyager Digital has started to sell his crypto-assets against cash on other crypto exchanges, mainly coin base.
voyager continues to sell assets with a rate of around $ 100 million/week.
currently they keep almost $ 700 million in two very large wallets.
Your top-Holdings:
$ 268 million ETH
$ 236 million
$ 77 million Shib pic.twitter.com/zttqsvjlrj
- arkham (@arkhamintel) 27. February 2023
Each week, assets worth around $ 100 million are sold. According to Arkham, Voyager's main assets consist of 268 million ETH, 236 million USDC and 77 million Shib. But other cryptocurrencies are also sold out.
The team of the blockchain analysis company Lookonchain has provided a list of digital assets that have been postponed to coin base in the past few days, including link, university and more.
2/Here are the transmitted assets #Traveler to #coinbase since February 14th
-2.24 t -15.635 $ ETH ($ 25M)
- 28.5 million $ VGX ($ 12.85 million) />-640,000 -7.75 m ($ 3M) />-350,000 $ ($ 2,28 million)
- 3,26 m $ mana ($)
- 4m $ enj ($ 1,88 million)
-2,3 MIO $ Sand ($ 1,64 million) Rel = "Nofollow Noopener" Target = "_ Blank" href = "https://t.co/i2fw2ogk9" Data-wpel-link = "external"> pic.twitter.com/ii2fw2ogk9
- Lookonchain (@lookonchain) 26. February 2023
The most interesting asset here is VGX - the proprietary token from Voyager, of which 28.5 million were postponed to the caulders' coffers. If these tokens were sold, this could be a very clear warning sign that Voyager puts even greater difficulties than expected.
So far it is unclear whether Voyager intends to repay the creditors with cash, to consolidate his assets in cash in order to offer a simpler takeover, or to compensate the creditors with the proceeds..