Voyager is selling crypto assets through Coinbase, suggests on-chain data

Mar 16, 2023 | wjb news

It is reported that Voyager Digital, the central financial (CeFi) service platform that filed for bankruptcy protection in July 2022, is selling assets through Coinbase logging in to the password trading center. Information on the chain shows that gradually from February 24, travelers received at least $100 million in coins (USDC) within three days.

According to Lookonchain, an investment analyst on the chain, travelers have pushed login password assets to Coinbase almost every day since Qixi Festival on Feb. 14. According to the data survey, travelers transferred to millions of dollars using a bag of mixed digital currency OTP, including Ether, Shib and Chainlink.

LookonChain revealed that travelers used 23 tokens with a meaning of more than $100m. The figure below shows the list of tokens in US dollars. However, Coinbase did not respond to Cointelegraph's request for comment to confirm the validity of the claim.

Despite the sell-off, travelers still have nearly $530 million in login passwords, one of the largest stocks, Ether ($276 million) and Shiba Inu ($81 million).

It is reported that in the fund sell-off, the Foreign Securities and Exchange Commission (SEC) boycotted Binance.US to recover more than $1 billion in assets from Voyager companies.

In a document filed with the Foreign bankruptcy Court for the South District of New York City on February 22nd, SEC stated that:

However, debtors (Binance.US) do not confirm that they can sell this type of sale in compliance with federal securities laws.

This document shows anxiety about the legitimacy and ability of the planned asset restructuring through the acquisition. It also doubts whether Voyager debtors will be able to recover some of their assets after bankruptcy.