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Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 chapter in July 2022, is reportedly promoting property by way of the Coinbase crypto alternate. On-chain knowledge counsel that Voyager obtained a minimum of $100 million in USD Coin (USDC) in three days, beginning Feb. 24.
Since Valentine’s Day, Feb. 14, Voyager has despatched crypto property to Coinbase on an virtually every day foundation, alleges on-chain analyst Lookonchain. The investigation reveals that Voyager transferred tens of millions of {dollars} utilizing a combined bag of cryptocurrency tokens, together with Ether (ETH), Shiba Inu (SHIB) and Chainlink (LINK).
1/ It appears that evidently #Voyager is promoting property by way of #Coinbase.
We seen that #Voyager has obtained 100M $ USDC from #Coinbase prior to now 3 days.
And #Voyager has despatched property to #Coinbase virtually day-after-day from Feb 14.https://t.co/VW8o8dBQtqhttps://t.co/qbHt0r7VNG pic.twitter.com/kfxF6rwHFk
— Lookonchain (@lookonchain) February 26, 2023
Lookonchain revealed Voyager’s use of 23 tokens, valued at over $100 million. The picture beneath reveals a listing of tokens with their worth in U.S. {dollars}. Nevertheless, Coinbase has not but responded to Cointelegraph’s request for remark to substantiate the declare’s legitimacy.
Regardless of the sell-off, Voyager holds almost $530 million in crypto, with the most important shares in Ether ($276 million) and Shiba Inu ($81 million).
Associated: Voyager creditors serve SBF a subpoena to appear in court for a ‘remote deposition’
Amid the alleged sell-off of funds, the US Securities and Alternate Fee (SEC) objected to Binance.US’ transfer to amass over $1 billion of property belonging to Voyager.
In a Feb. 22 submitting submitted to the U.S. Chapter Courtroom for the Southern District of New York, the SEC said:
“Nevertheless, the Debtors (Binance.US) have but to show that they’d be capable of conduct such gross sales in compliance with the federal securities legal guidelines.”
The submitting highlights issues over the lawfulness and skill to undertake deliberate asset restructuring by way of the acquisition. It additionally questions whether or not Voyager debtors can recoup a few of their property following the agency’s chapter.
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