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Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 bankruptcy in July 2022, is reportedly selling assets through the COINBASE crypto exchange. Data on the channel suggests that Voyager received a minimum of $100 million in coins () in three days, starting in February. 24.
We've been here since Valentine's Day, February. 14, Voyager sent crypto assets to Coinbase almost daily, according to online analyst Lookonchain. The investigation shows that Voyager transferred millions of dollars using a mixed bag of cryptocurrency tokens, including Ether (), Shiba Inu (SHIB) and Chainlink (LINK).
1/ It seems that #Voyager is selling assets through #Coinbase.
We noticed that #Voyager has received 100M $ USDC from #Coinbase in the past 3 days.
And #Voyager has sent assets to #Coinbase almost every 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 following image shows a list of chips with their USD value. However, coinbase has yet to respond to the request for comments from cointelegraph in order to confirm the legitimacy of the claim.
Despite the sale, Voyager holds nearly 530 million dollars in cryptography, with the largest stocks in Ether (276 million dollars) and Shiba Inu (81 million dollars).
Related: Voyager creditors serve SBF a subpoena to appear in court for a ‘remote deposition’
Mid-way through the alleged fund sale, the U.S. Securities and Exchange Commission (SEC) opposed Binance.The United States is looking to acquire over $1 billion worth of Voyager assets.
In a Feb. 22 filing submitted to the U.S. Bankruptcy Court for the Southern District of New York, the SEC stated:
“However, the Debtors (Binance.United States) have not yet shown that they would be able to make such sales in accordance with federal securities legislation."
The deposit raises concerns regarding the legality and ability of the acquisition to undertake the asset restructuring. He also wonders whether the debtors of Voyager can recover part of their assets after the bankruptcy of the company.
