270,000,000,000 Shiba Inu (SHIB) Abruptly Sent to Coinbase by Embattled Crypto Lender: On-Chain Data

Bankrupt crypto lender Voyager Digital moved 270 billion Shiba Inu (SHIB) tokens to high US crypto trade Coinbase in a 12-hour interval this week, in keeping with the blockchain safety agency Peckshield.

These 270 billion SHIB tokens had been value about $3 million at time of switch.

Voyager additionally moved $19 million value of Ethereum (ETH) and $4 million of its native Voyager (VGX) token to Coinbase in the identical 12-hour interval.

“PeckShieldAlert Voyager-labeled addresses have transferred ~$27.7 million value of cryptos to Coinbase, together with 17,000 ETH (~$19 million), 12 million VGX (~$4 million), 270 billion SHIB (~$3 million) inside the final 12 hours.”

Final July, Voyager was compelled to close down buyer withdrawals and deposits after the embattled crypto agency Three Arrows Capital did not pay again a mortgage value a whole lot of thousands and thousands of {dollars}.

Voyager ultimately filed for chapter and got here to an settlement to promote $1.3 billion value of property and switch its prospects to Binance.US, although the U.S. Securities and Change Fee (SEC) opposed the deal, arguing the settlement might presumably violate securities regulation.

New York Choose Michael Wiles sided with Voyager and accredited the deal, although the U.S. Division of Justice (DOJ) is appealing his choice.

As of late February, Voyager’s held $631 million value of crypto in its reserves, together with $81 million value of SHIB, in keeping with the blockchain-tracking agency Lookonchain.

SHIB is buying and selling at $0.00001 at time of writing. The 14th-ranked crypto asset by market cap is down 7.8% prior to now 24 hours.

Do not Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox

Test Price Action

Observe us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix