Failed Crypto Platform Unloads $8M Bag of SHIB, ETH, and BTC

Cryptocurrency brokerage Voyager Digital liquidated over $8.4 million worth of crypto assets in the past day, selling off Bitcoin, Ether, and Shiba Inu coin as part of its bankruptcy process.

The asset sales come as Voyager faces growing legal troubles over its proposed sale of assets to Binance.US. A federal judge recently granted an injunction to halt Voyager’s $1.3 billion deal with Binance.US pending an appeal.

Voyager originally filed for bankruptcy in July 2022 after its crypto investments failed to generate profits. The company had planned to sell its assets and customer accounts to Binance.US as part of restructuring.

With the acquisition deal now suspended, Voyager is proceeding with liquidating assets and winding down operations as part of bankruptcy proceedings. Customers stand to recover only 36% of their account values.

The rationale behind Voyager’s latest crypto sales remains unclear given its ongoing winding down process. The company transferred 100 bitcoin worth $2.94 million and deposited 1,500 ether and 250 billion SHIB tokens to Coinbase accounts.

Voyager then received nearly $8.85 million back from Coinbase via wire transfers. This comes after Voyager allegedly sold most of its holdings for USD Coin between February and March.

The asset sales have sparked speculation and concerns from Voyager customers awaiting reclamation of their frozen accounts. The unfolding legal drama highlights lingering uncertainties around one of crypto’s biggest bankruptcies.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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