Voyager Transfers Millions of Dollars Worth of Ethereum to Coinbase
Voyager, a troubled crypto lender, is moving a significant amount of Ethereum (ETH) to the US-based digital asset exchange Coinbase. The transfers were initially detected by blockchain-tracking platform Etherscan and confirmed by analytics firm Akrham. Here are the key points:
– Voyager’s Ethereum stacks are being sent to various wallets controlled by Coinbase.
– The transfers began on Friday with an initial transfer of 500 ETH worth $922,625. Later that day, Voyager sent 1,000 ETH worth $1.84 million to Coinbase.
– On Saturday, Voyager moved another 1,000 ETH to a different Coinbase wallet.
– The following day, Voyager transferred a total of 4,500 ETH worth $8.30 million to Coinbase in three transactions.
– In total, Voyager moved 7,000 ETH worth $12.91 million to the centralized crypto exchange.
It is important to note that since the Ethereum was sent to a crypto exchange, it can potentially be sold on the open market. Earlier this year, Binance.US had planned to acquire Voyager’s assets but backed out due to regulatory uncertainties in the US.
Hot Take
Voyager’s decision to move millions of dollars worth of Ethereum to Coinbase raises questions about the company’s financial stability and intent. The move may indicate a desperate attempt to liquidate assets or seek a more secure storage solution. Crypto investors should closely monitor the situation as it unfolds and consider the potential impact on the market.
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