Bankrupt Cryptocurrency Broker Voyager Digital Sends and Receives Millions of USDC and Tokens
It is reported that since March 8, the bankrupt cryptocurrency broker Voyager Digital has received nearly US $86.8 million of USDC and sent nearly US $82.5 mil…
It is reported that since March 8, the bankrupt cryptocurrency broker Voyager Digital has received nearly US $86.8 million of USDC and sent nearly US $82.5 million of cryptocurrency tokens to various addresses belonging to the exchange. As of the press release, the three major liquidation assets of Voyager in the past day include approximately US $58.1 million of ETH, US $10.9 million of SHIB and US $7.2 million of Voyager’s own VGX tokens. According to Arkham Intelligence, a blockchain analysis company, the addresses it uses mainly belong to Coinbase, Binance.US and Wintermute. The price of VGX is currently 38 cents, down nearly 32% in the past 24 hours.
Voyager has sold $358.52 million of encryption assets
Analysis based on this information:
A recent report stated that since March 8, Voyager Digital, a bankrupt cryptocurrency broker, has received nearly US $86.8 million of USD Coin (USDC) and sent nearly US $82.5 million of cryptocurrency tokens to various addresses belonging to the exchange. The liquidation assets of the company in the past day included approximately US $58.1 million of Ethereum (ETH), US $10.9 million of Shiba Inu (SHIB), and US $7.2 million of Voyager’s own VGX tokens.
The report also stated that the blockchain analysis company, Arkham Intelligence, revealed that the addresses used by Voyager mainly belonged to Coinbase, Binance.US, and Wintermute. It is unclear whether Voyager’s transfers to these addresses were legitimate transactions or an attempt to hide assets.
The significant inflow and outflow of USDC and cryptocurrency tokens raise questions about the state of Voyager Digital’s finances. The company’s decision to receive and send such large quantities of funds and tokens may suggest that it is attempting to sell off its assets in a hurry to pay off its debts to creditors.
Furthermore, the sharp decline in the price of VGX, which is Voyager’s token used on its trading platform, raises concerns about the profitability of the token. VGX’s price has dropped nearly 32% in the past 24 hours, indicating that investors are losing faith in Voyager Digital and its token.
The use of blockchain analysis to identify the addresses that Voyager uses highlights the transparency of the cryptocurrency industry. It allows for greater scrutiny of transactions and provides a means to track the flow of funds and tokens. This level of transparency is a feature unique to cryptocurrencies and demonstrates the potential for the technology to revolutionize the financial industry.
In summary, the report on Voyager Digital’s receipt and sending of millions of USDC and tokens highlights the dire state of the company’s financial situation. The use of blockchain analysis to identify the addresses used by Voyager further underscores the transparency of the cryptocurrency industry and its potential to reshape the traditional financial system.
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