Voyager Is Offering Crypto Assets For Sale On Coinbase, New Data Shows

According to on-chain data, Voyager Digital, a centralized finance (CeFi) platform that filed for Chapter 11 bankruptcy in July 2022, has reportedly been selling assets through the Coinbase crypto exchange. Starting from February 24th, it is believed that Voyager received at least $100 million in USD Coin (USDC) within a span of three days.

Furthermore, on-chain analyst Lookonchain alleges that Voyager has been regularly transferring cryptocurrency assets to Coinbase since February 14th. The investigation indicates that Voyager has utilized various cryptocurrency tokens, such as Ether (ETH), Shiba Inu, and Chainlink, to transfer millions of dollars.

The use of 23 tokens, amounting to over $100 million by Voyager, was uncovered by Lookonchain. The list below displays the tokens along with their respective value in U.S. dollars.

Despite the recent selling activity, Voyager still holds almost $530 million worth of cryptocurrency, with Ether being the largest share at $276 million, followed by Shiba Inu at $81 million.

In the midst of these developments, the United States Securities and Exchange Commission (SEC) has raised concerns over Binance.US’s attempt to acquire more than $1 billion of assets from Voyager.

Binance.US’s proposed acquisition of assets from defunct crypto lender Voyager for $1.02 billion has been met with opposition from regulators in New York and the federal government. They have filed objections on February 22, stating that the deal could be discriminatory and unlawful, citing concerns about potential violations of securities law.

Additionally, the SEC has expressed concerns that certain aspects of the Binance.US-Voyager deal could violate securities regulations, such as the planned transactions in crypto assets and the redistribution of those assets to account holders, which may breach the prohibition on the unregistered sale or delivery of securities outlined in Section 5 of the Securities Act of 1933.