Voyager Digital holds $725m of various coins despite ongoing liquidations that started in September 2022.
The lender’s balance follows a series of token transfers to other crypto firms to repay former clients in liquidation auctions.
Voyager Digital’s asset transfers
The troubled cryptocurrency company has transferred 158k ethereum (ETH), 5.9t SHIB, 123m Voyager Tokens (VGX), 36m Polygon (MATIC), and 2m Chainlink (LINK).
Following these transfers, Voyager now holds $725m of coins.
The move has prompted industry analysts to speculate about the fate of Voyager Digital and its possible effects on the cryptocurrency market. Several businesses and wallets linked to the bankrupt exchange have been shifting money to and from multiple exchanges.
The collapse of Voyager Digital
Voyager Digital’s collapse was a blow to the cryptocurrency market. In July 2022, the lender stopped accepting customer deposits and withdrawals after Three Arrows Capital (3AC), a defunct crypto hedge fund, failed to repay a 15,250 bitcoin (BTC) and $350m worth of USDC loan. This action hastened Voyager’s downfall amid mounting legal and regulatory issues.
Following this, the bankrupt crypto lender announced that as of Sep. 13, 2022, it would be holding a liquidation auction to address its financial challenges.
Sam Bankman-Fried’s attorney negotiates a new bail arrangement
On Dec. 13, Sam Bankman-Fried, whose cryptocurrency businesses were closely connected to Voyager Digital, faced an eight-count indictment accusing him of defrauding FTX customers, investors, and Alameda research.
In a recent trial update, his attorneys claimed to be approaching an agreement with U.S. prosecutors on amended bail conditions for the arrested FTX cryptocurrency exchange founder.
In a letter delivered Friday evening to the federal court in Manhattan, Fried’s attorney Christian Everdell stated that both sides believed they were “near to a resolution.” They anticipated formally proposing further limits by next week.
- See New Cryptocurrencies
- Follow our Twitter
- Follow us on Facebook
- Subscribe to our Telegram Channel
- Join coinxhigh official Telegram group.
crypto news | cryptocurrency news | crypto news today | cryptocurrency news today | Latest cryptocurrencies | crypto market news | Latest crypto news | cryptocurrency latest news | crypto update