Voyager received nearly one billion after getting rid of SHIB, company has already sent part of it to convert into fiat
According to data obtained by @lookonchain “SmartMoney” tracker, over the past month, bankrupt crypto lender Voyager Digital has received an astounding sum in USDC for selling part of its crypto holdings, including Shiba Inu meme coin.
Voyager receives $610 million for SHIB and other assets
In total, Voyager has received approximately 610 million USDC for selling SHIB, Ethereum, VGX and other cryptos. From this amount, the company has already sent 150 million USDC to the issuer of its stablecoin – Circle – to convert this amount of crypto into fiat USD.
Earlier this month, as reported by U.Today, the above-mentioned failed crypto brokerage firm dumped roughly 1.6 trillion Shiba Inu in three chunks, sending 2 x 400 billion SHIB and 800 billion SHIB to various major crypto exchanges, including Coinbase and Binance.
Among other crypto holdings, the company liquidated LINK, SUSHI, COMP and MKR.
As reported by U.Today earlier, a U.S. court approved that Binance US could acquire the distressed assets of Voyager for $1.3 billion despite the SEC regulatory agency objecting to that deal.
Voyager transferred 150M $USDC to #Circle for USD cash 6 hrs ago.
2 addresses of #Voyager received a total of ~610M $USDC by selling tokens like $ETH, $VGX, $SHIB, etc. in the past month.https://t.co/sr3B5YFJDa pic.twitter.com/OYe4K7w5Rb
— Lookonchain (@lookonchain) March 29, 2023
CFTC lawsuit against Binance halts Binance US-Voyager deal
However, now that Binance and its leader CZ have been sued by the CFTC this week, a federal judge has put the already approved deal between the two companies on hold to give opponents of that deal more time for their appeals against the deal to be considered.
Binance has been sued for allegedly breaking U.S. laws on spot and derivatives trading by allowing U.S. citizens to participate in those despite the prohibition. CZ responded to that on Binance’s blog the other day, saying that Binance blocks U.S. citizens from opening accounts; however, he insists that their subsidiary, Binance US, follows all the necessary laws and cooperates with U.S. regulators on these issues.