• Voyager Digital is transferring large amounts of Shiba Inu (SHIB) tokens and Ethereum (ETH) to Coinbase and Binance.
• The transfer comes as Voyager Digital has submitted a plan for customers to retrieve their assets through Binance US.
• This significant move follows the company’s bankruptcy filing last July due to the failure of Three Arrows Capital to repay a loan worth hundreds of millions of dollars.
Voyager Digital Transfers Assets
News has emerged that bankrupt lender Voyager Digital is moving large amounts of Shiba Inu (SHIB) tokens and Ethereum (ETH) to Coinbase. According to Peckshield, a blockchain cybersecurity firm, Voyager Digital has transferred $28.7 million worth of digital assets to various crypto exchange platforms. This includes 250 billion SHIB tokens, worth approximately $3.4 million, being transferred to Coinbase, while 15,000 ETH worth $25.3 million were sent off both Coinbase and Binance US.
Voyager Digital’s Bankruptcy
This significant move by the distressed crypto firm follows its bankruptcy filing last July due to the failure of Three Arrows Capital to repay a loan worth hundreds of millions of dollars. Following this incident, FTX had agreed to buy Voyager’s assets; however, this deal ultimately fell through after a Texas regulator objected FTX’s purchase plans.
In an attempt for retail investors who had money on the site at the time not suffer calamity, Voyager was forced into making a deal with Binance which saw them agree in purchasing all remaining assets at a discounted rate. However, this agreement also included provisions that allowed customers affected by the closure access funds from their accounts via Binance US upon meeting certain requirements and conditions set out by the exchange platform itself.
250 Billion SHIB Transfer
The 250 billion SHIB token transfer reveals part of how these provisions are being met as some users have begun accessing funds that were previously inaccessible before now thanks largely in part due to Voyager’s transfer activities as they seek refunds or reimbursement from other exchanges like Coinbase or Binance US among others depending on where they held their funds when all accounts were frozen last summer during bankruptcy proceedings against them.
Customer Reimbursement Plan
As such customer reimbursement plans have been put forward by Voyager in order for customers affected by these events get access once more after having their accounts frozen for months on end since last summer when it all began until now when many are getting refunded or reimbursed one way or another depending again on which exchange they held their funds with during those times though things still remain far from clear what will happen next exactly despite some progress being made thus far towards achieving that goal either way here today overall