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Shiba Inu (SHIB) Remains Voyager’s Third-Biggest Holding

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Sun, 26/02/2023 - 11:47
Shiba Inu (SHIB) Remains Voyager’s Third-Biggest Holding
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Shiba Inu (SHIB) remains one of Voyager's largest holdings in spite of ongoing asset sales.

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According to recent tweets by crypto analyst Andrew Kang and blockchain data tracker Lookonchain, Voyager has sold around $100 million out of its $630 million total assets on-chain, with the largest assets remaining being $276 million in ETH and $81 million in SHIB.

Kang predicts that this sale may be one of the last few big casualties of contagion to be finished off.

Lookonchain's analysis shows that Voyager has been sending assets to Coinbase almost daily since February 14.

These assets include 2.24 trillion SHIB, 15,635 ETH, 28.5 million VGX, 640K LINK, 7.75 million OCEAN, 350K UNI, 3.26 million MANA, 4 million ENJ, and 2.3 million SAND.

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Despite these asset sales, Voyager currently holds approximately $631 million in assets, including 172,223 ETH, 186 million USDC, 6.5 trillion SHIB, and other cryptocurrencies.

It is worth noting that Voyager recently filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York.

The company suffered significant losses due to its exposure to crypto hedge fund Three Arrows Capital, which went bust in July 2022. 

U.S. regulators recently voiced their opposition to Binance.US's plan to acquire the failed crypto brokerage for $1 billion. 

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