Coinbase – Voyager Potentially Converting $100 million to USDC Through Exchange

Voyager has recently been in the news due to a $445.8 million lawsuit filed against it by Alameda, FTX’s sister business. A new court filing, however, shows that the parties concerned have reached a temporary deal over the dispute.

Crypto broker Voyager Digital filed for bankruptcy in the middle of 2022, blaming the state of the market. Several businesses came up with plans to offer Voyager a life jacket and save it from bankruptcy.

Also read: 359 Million Dogecoin on the Move by Top Whale, Price Reacts

According to the latest on-chain data shared by Lookonchain, the bankrupt firm is reportedly selling assets through the Coinbase exchange.

Over $100 million USDC received from Coinbase

The data reveals that Voyager has reportedly received $100 million in USDC from Coinbase in the past three days. It has also come to light that the firm has sent assets to Coinbase almost every day since Feb. 14.

The majority of the assets that were transferred include Shiba Inu, Ethereum, VG, LINK, OCEAN, UNI, MANA, ENJ, SAND, etc. According to Lookonchain data, bankrupt Voyager currently holds over $631 million worth of assets.

Also read: Cryptocurrencies Safe From Ban: US Treasury Secretary Promises Robust Regulations

The assets include over 172,223 ETH, 186 million USDC, 6.5 trillion SHIB, 2.14 million LINK, 581,052 STMX, 11.9 million MANA, 12 million FTM, 1 million APE, etc.