Voyager Digital sells crypto assets on Coinbase, but here’s the catch

ambcrypto.com:

According to on-chain analyst Lookonchain , bankrupt crypto brokerage firm Voyager Digital has been selling its crypto assets via leading exchange Coinbase since 14 February. 

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

The data collected by Lookonchain revealed that Voyager received a whopping $100 million worth of USDC from Coinbase in the last three days.

Since the sale began on Valentine’s day, Voyager has transferred a wide range of crypto assets, from leading altcoin Ethereum [ETH] to other lower market cap alts. 

Read Voyager [VGX] price prediction 2023-2024

According to Lookonchain, despite the selloff, Voyager continues to hold crypto assets worth over $600 million, made up of mostly Ether tokens.

Including:

– 172,223 $ETH($276M) – 186M $USDC – 6.5T $SHIB($81M) – 2.14M $LINK($15.8M) – 581,052 $AVAX($10.5M) – 1.17B $STMX($8.3M) – 11.9M $MANA($7.88M) – 12M $FTM($5.6M) – 1M $APE($5.1M) … pic.twitter.com/PIl9zXJp8P

— Lookonchain (@lookonchain) February 26, 2023

Amid the crypto asset sale, the U.S. Securities and Exchange Commission (SEC) has moved to block the already-approved sale of Voyager’s assets to cryptocurrency exchange Binance.

According to the regulator, the objection was filed because certain elements of the asset restructuring proposal may violate the securities regulations in the United States.

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