Voyager Digital holds $725m of varied cash regardless of ongoing liquidations that began in September 2022.
The lender’s stability follows a sequence of token transfers to different crypto corporations to repay former shoppers in liquidation auctions.
Voyager Digital’s asset transfers
The troubled cryptocurrency firm has transferred 158k ethereum (ETH), 5.9t SHIB, 123m Voyager Tokens (VGX), 36m Polygon (MATIC), and 2m Chainlink (LINK).
Following these transfers, Voyager now holds $725m of cash.
Present Holdings in Voyager’s Wallets
Complete Stability: $725M
– 72% in $USDC
– 12.7% in $ETH
– 4.8% in $SHIB
– 2.8% in $VGX pic.twitter.com/EafWIseWKb
— Tom Wan (@tomwanhh) March 18, 2023
The transfer has prompted business analysts to take a position in regards to the destiny of Voyager Digital and its doable results on the cryptocurrency market. A number of companies and wallets linked to the bankrupt trade have been shifting cash to and from a number of exchanges.
The collapse of Voyager Digital
Voyager Digital’s collapse was a blow to the cryptocurrency market. In July 2022, the lender stopped accepting buyer deposits and withdrawals after Three Arrows Capital (3AC), a defunct crypto hedge fund, didn’t repay a 15,250 bitcoin (BTC) and $350m value of USDC mortgage. This motion hastened Voyager’s downfall amid mounting authorized and regulatory points.
Following this, the bankrupt crypto lender introduced that as of Sep. 13, 2022, it could be holding a liquidation public sale to deal with its monetary challenges.
Sam Bankman-Fried’s lawyer negotiates a brand new bail association
On Dec. 13, Sam Bankman-Fried, whose cryptocurrency companies have been intently related to Voyager Digital, confronted an eight-count indictment accusing him of defrauding FTX clients, buyers, and Alameda analysis.
In a latest trial replace, his attorneys claimed to be approaching an settlement with U.S. prosecutors on amended bail circumstances for the arrested FTX cryptocurrency trade founder.
In a letter delivered Friday night to the federal courtroom in Manhattan, Fried’s lawyer Christian Everdell acknowledged that either side believed they have been “close to to a decision.” They anticipated formally proposing additional limits by subsequent week.
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