Voyager has sold $358.52 million of encryption assets

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.

Interpretation of this information:

The bankrupt cryptocurrency broker, Voyager Digital, has received almost US $86.8 million in USDC and sent US $82.5 million of cryptocurrency tokens to various exchange addresses since March 8th. The assets liquidated by the company 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 VGX tokens. The addresses used by Voyager mainly belong to Coinbase, Binance.US, and Wintermute. The price of VGX has declined by almost 32% in the past 24 hours, currently valued at 38 cents.

Interpretation:

The report suggests that Voyager Digital, a bankrupt cryptocurrency broker, has been transferring cryptocurrency tokens to various exchange addresses while simultaneously receiving USDC monetary funds. It is also reported that the company has liquidated its assets, chiefly ETH, SHIB, and VGX tokens. It is probable that the company is taking this measure to pay off some of its debts. The three addresses used by Voyager mostly belong to Coinbase, Binance.US, and Wintermute, which indicates that Voyager conducts most of its trading activities with these exchanges.

The value of Voyager’s VGX token has declined by almost 32% in the last 24 hours, which could be due to the ongoing liquidation of Voyager’s assets. This kind of liquidation generally makes investors nervous, and they often panic-sell stocks, securities, or cryptocurrencies, leading to declining asset values. This trend looks unlikely to reverse in the short term, meaning that Voyager’s VGX token price may continue to decline as the company moves forward with the liquidation process.

In conclusion, Voyager’s recent activities have raised some serious questions about the company’s financial stability. The company has been transferring cryptocurrency tokens to various exchange addresses and liquidating its assets, leading to a decline in the value of its VGX tokens. The addresses used by Voyager are primarily associated with Coinbase, Binance.US, and Wintermute, indicating that the company conducts the majority of its trading activities with these exchanges.