Voyager Digital’s Liquidations

• Voyager Digital has liquidated over $80 million worth of crypto assets since March 8.
• Binance.US‘ acquisition of Voyager’s assets was approved by a bankruptcy judge.
• The three largest liquidated assets were roughly $58.1 million in Ether, $10.9 million in Shiba Inu, and $7.2 million in Voyager’s own VGX token.

Binance US Acquisition Approved

Facebook iconLinkedin iconTwitter iconBinance.US cleared a major hurdle in its effort to acquire the assets of bankrupt crypto lender Voyager Digital when Michael Wiles, a bankruptcy judge in the Southern District of New York, overruled the various objections to the proposed acquisition. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discussed the details and key takeaways from this move.

Asset Liquidation Overview

Since March 8, bankrupt crypto broker Voyager Digital has received almost $86.8 million in USD coin (USDC) and sent nearly $82.5 million in crypto tokens to various addresses belonging to exchanges including Coinbase, Binance US and Wintermute as tracked by blockchain analytics firm Arkham Intelligence .The three largest liquidated assets were roughly $58.1 million in ether (ETH), $10.9 million in shiba inu (SHIB) and $7.2 million in Voyager’s own VGX token at press time..

Crypto Market Performance

The asset liquidations by Voyager came amid a broader 5.6% drop in the value of the crypto markets, as measured by the CoinDesk Market Index which includes Bitcoin (BTC), Ether (ETH), BNB (BNB), Ripple (XRP) and Aave Protocol Token (APT).

Conclusion

To date, Voyager has sold off more than $358million worth of cryptocurrencyassets since launching its bankruptcy proceedings earlier this year, with most proceeds going toward redeeming USDC stablecoin for creditors