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Trillions of Shiba Inu (SHIB) Tokens May Hit Major US Exchange Following Voyager Deal

Thu, 04/20/2023 - 11:50
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Gamza Khanzadaev
Bankrupt SHIB holder Voyager gets green light for Binance US deal
Trillions of Shiba Inu (SHIB) Tokens May Hit Major US Exchange Following Voyager Deal
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In a major development, the Official Committee of Unsecured Creditors of Voyager, the North American crypto broker that filed for bankruptcy earlier this year, announced that a resolution has been reached with the U.S. government. The resolution paves the way for Binance US to acquire the bankrupt broker and its digital assets.

Under the terms of the agreement, the appeals will continue with respect to the plan's exculpation provision. However, the government has agreed that the plan may move forward without such a provision and will not otherwise be subject to the stay. This decision is expected to speed up the acquisition process and bring the plan to fruition in the near future.

Voyager Gets $610 Million from Selling Shiba Inu, ETH and VGX

As of now, according to DeBank, Voyager currently holds $266.7 million worth of stablecoins and other digital currencies. Among them is the Shiba Inu token, which remains the third largest asset in Voyager's wallet, even though its amount has decreased by half due to recent sales by the bankrupt broker. More than 3.1 trillion SHIB continue to be held in the wallet.

The acquisition of Voyager by Binance US is a significant development in the crypto space. Binance US is one of the largest cryptocurrency exchanges in the world and has been expanding its presence in the U.S. market. The acquisition of Voyager and its digital assets will further strengthen Binance US's position in the market.

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The resolution of the appeals and the agreement with the U.S. government represent a significant step forward for the acquisition plan and provide relief to Voyager's creditors.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.