Voyager Transfers Digital Assets to Coinbase, Nears Completion of Monetary Obligations
Cryptocurrency firm Voyager has transferred 1500 Ether (ETH) and 250 billion SHIB tokens to Coinbase as it moves towards finalizing its financial obligations. These transfers come as Voyager strategically shifts its remaining tokens from auxiliary addresses to primary ones.
Key points:
- Voyager has transferred 1500 ETH (worth $2.77 million) and 250 billion SHIB tokens (worth $2.7 million) to Coinbase.
- This transfer is part of Voyager’s ongoing proceedings to complete its monetary obligations.
- The firm is converting the remaining cryptocurrency assets into U.S. dollars to compensate its users.
- Voyager users had the option to redeem 35.72% of their tokens or opt for USD reimbursement before the tokens were liquidated.
- With an estimated $81.63 million worth of cryptocurrencies in its addresses, Voyager plans to systematically offload these holdings.
Voyager, formerly a prominent crypto lending platform, faced difficulties in 2021’s bear market and is now dealing with insolvency. However, the completion of the cryptocurrency claims of its users indicates the impending launch of a fiat compensation process.
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Hot Take:
Voyager’s transfer of digital assets to Coinbase is a significant step towards meeting its financial obligations. The conversion of the remaining cryptocurrencies into U.S. dollars will provide compensation to its users. This move marks a turning point for Voyager as it continues to navigate its insolvency and work towards resolving its bankruptcy.
