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Top Crypto Firm Sends 300 Billion Shiba Inu (SHIB) To Coinbase

The once-thriving crypto lending platform Voyager Capital had only $77 million worth of Shiba Inu (SHIB) remaining on its balance sheet as of February 27, according to Arkham Intel.

Per a recent update from Arkham Intel, an anti-anonymous blockchain analytics platform, the bankrupt crypto lender Voyager Digital continued its weekly hefty assets sell-off last Monday. 

The United States-based company, which is currently undergoing bankruptcy proceedings in court moved a whopping 300,000,000,000 Shiba Inu (SHIB) to Coinbase on February 27 in its latest round of offloading held assets. 

Voyager equally sent 4,000 ETH and 347.5k LINK to the largest United States-based crypto exchange by trading volume. 

It’s worth noting that Voyager has been selling at least $100 million worth of crypto assets in the past weeks since February 14, as stated by Arkham. 

Notably, Voyager has already sent roughly 2.24T SHIB ($28 million), alongside many other altcoins to Coinbase in the two weeks. A tracking platform Lookonchain wrote, 

“Here are the assets transferred from Voyager to Coinbase since Feb 14th. 2.24 trillion SHIB ($28 million), 15,635 ETH ($25 million), 28.5 million VGX ($12.85 million), 640,000, LINK ($4.74 million), 7.75 million OCEAN ($3 million), 350,000 UNI ($2.28 million), 3.26 million MANA ($2.15 million), 4 million ENJ ($1.88 million), 2.3 million SAND ($1.64 million).”

These events reduced the bankrupt crypto lenders’  asset holdings drastically. As of Monday, Voyager had only $77 million worth of SHIB and $268 million worth of ETH. 

Arkham Intel wrote, “Voyager continuing to sell assets at a rate of around $100M/week. Currently, they hold almost $700M in two very large wallets. Their top holdings: $268M ETH, $236M USDC, and $77M SHIB.”

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Recall that PeckShield, another blockchain analytics channel, reported that Voyager transferred 250 billion Shiba Inu (SHIB) to Coinbase on February 21.


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.
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