Cryptocurrency

Arkham

Read

<p class="is-style-lead">Cryptocurrency firm Voyager transferred digital assets to Coinbase, as part of a significant stride toward finalizing its monetary obligations.&nbsp;</p> 
<p>The Singapore-based company orchestrated the transfer of 1500 Ether (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), equating to a value of $2.77 million — alongside 250 billion SHIB tokens amounting to $2.7 million — to Coinbase. </p> 
<p>The move arrives amidst Voyager’s ongoing proceedings, which have seen the company strategically shifting its remaining tokens from auxiliary addresses to primary ones.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="zh" dir="ltr">• 1 小时前，<a href="https://twitter.com/hashtag/Voyager?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Voyager</a> 将 1500 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($2.77M)、2500 亿 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a>($2.7M) 转入 Coinbase。<br>• 另外 Voyager 正在将旗下钱包地址里的剩余代币全部归集到主地址。<br><br>Voyager 用户的加密货币索赔已结束，现在应该已开启最后的法币赔付流程：将剩余加密货币出售后向用户赔付美元。<br>（此前 Voyager 用户可以在… <a href="https://t.co/ToeE3cnr3A" target="_blank" rel="noopener noreferrer nofollow">https://t.co/ToeE3cnr3A</a> <a href="https://t.co/RiElnrZlth" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/RiElnrZlth</a></p>— 余烬 (@EmberCN) <a href="https://twitter.com/EmberCN/status/1690166987610345472?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 12, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>Voyager, currently grappling with insolvency, has successfully culminated the cryptocurrency claims of its user base, signifying the imminent launch of a fiat compensation process.&nbsp;</p> 
<p>This procedure entails converting the residual <a href="https://crypto.news/learn/no-stupid-questions-whats-a-crypto-token-anyway/" rel="noopener noreferrer nofollow">cryptocurrency </a>assets into U.S. dollars, ultimately disbursing these funds to the relevant users. Before this phase, Voyager patrons possessed the option to either redeem 35.72% of their tokens before their sale or opt for USD reimbursement, slated for 30 days following the tokens’ liquidation by Voyager.</p> 
<p> You might also like: <a href="https://crypto.news/voyager-creditors-withdrawals-surpass-250m-in-18-days/" rel="noopener noreferrer nofollow"> Voyager creditors’ withdrawals surpass $250m in 18 days </a> </p> 
<h3 class="wp-block-heading" id="easing-the-impact-of-bankruptcy">Easing the impact of bankruptcy</h3> 
<p>According to Arkham Intel, Voyager’s addresses are currently home to an estimated $81.63 million worth of diverse cryptocurrencies. The impending plan is to offload these holdings in the coming period systematically.&nbsp;</p> 
<p>The dire circumstances of bankruptcy prompted Voyager to undertake the process of withdrawals for its clientele on June 24, marking the initial step toward reimbursing customers after the company’s fiscal crisis in 2022. During this interim period, users could retrieve 35.72% of their digital assets, awaiting the eventual return of their remaining funds.</p> 
<p>The recent history of <a href="https://crypto.news/learn/what-is-voyager-digital-from-crypto-stardom-to-bankruptcy/" rel="noopener noreferrer nofollow">Voyager</a> highlights the company’s former prominence as a crypto lending platform. At its zenith, the platform boasted a user base of 3.5 million individuals, with the majority maintaining balances of less than $10,000. </p> 
<p>In stark contrast to its previous growth trajectory, the adversities of the 2021 bear market precipitated a downturn for the firm and its affiliates. These adversities compelled Voyager to transition from a position of optimism to its current state of insolvency.</p> 
<p> Read more: <a href="https://crypto.news/voyager-creditors-withdrawals-surpass-250m-in-18-days/" rel="noopener noreferrer nofollow"> Voyager creditors’ withdrawals surpass $250m in 18 days </a> </p>

Bankrupt Voyager moves massive amount of crypto to Coinbase

Table of Contents

crypto.news

Other articles published on Aug 12, 2023

Bitcoin, BCH, and Litecoin Fall After LTC Halving, Traders Joining the Winning Side With QUBE

Voyager's Bankruptcy Leads to $5.47 Million Crypto Transfer to Coinbase

SEC delays Bitcoin ETF proposal, seeks public input

‘Something Special Coming Soon’; Is Elon Musk Launching ‘X’ Coin?

XRP Price Predicted to Touch $1,896 on ISDA Alliance – Rational or Delusional?

FTX’s SBF Imprisoned for Tampering with Evidence

Join our free newsletter for daily crypto updates!