On-chain knowledge exhibits a large liquidation from bankrupt cryptocurrency alternate Voyager.
On March 9, the alternate reportedly liquidated $56 million in Ethereum (ETH), Voyager Token (VGT), Shiba Inu (SHIB) and Chainlink (LINK).
Based on on-chain analytics agency Arkham Intelligence, Voyager sold Bought $358.5 million value of crypto property within the final 6 weeks and ERC-20 property in direct over-the-counter transactions with Binance.US, Coinbase and market maker Wintermute.
Since January, Voyager’s USDC stability has grown to $460 million. USDC It’s a dollar-pegged stablecoin.
The corporate’s cryptocurrency liquidations accelerated considerably in March, shifting greater than $138 million because the starting of the month in comparison with a complete of $221 million in January and February.
There may be nonetheless about $271.5 million in crypto property in wallets of defunct exchanges, prepared for liquidation. Analytics Portal, LookonChain, Confirmed Arkham knowledge exhibits that comparable values stay in Ethereum wallets.
Alongside the Voyager liquidation, regulators look like working onerous to sluggish the method down.
Binance.US acquisition hits hurdles
The US Division of Justice (DOJ) has challenged a New York court docket order permitting Binance.US to accumulate the property of bankrupt cryptocurrency alternate Voyager Digital. The enchantment was filed a day after Choose Michael Wiles dominated in favor of Voyager and Binance buying and selling in opposition to the Securities and Trade Fee’s (SEC) objection.
Voyager filed for chapter final summer time, together with a variety of different cryptocurrency corporations. Previous to chapter, FTX gained the primary bid to buy the defunct firm’s property.
“There will probably be no cope with FTX.
Final December, Binance.US emerged as the ultimate winner of the tender.