Cryptocurrency

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.”

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


Follow us on Twitter, Facebook, Telegram, and Google News

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.

Recent Posts

Ripple CTO Explains Investment Contract and Why SEC Is Wrong About XRP

David Schwartz, Ripple’s Chief Technology Officer, recently highlighted significant distinctions between contracts and “reasonable reliance,”…

26 minutes ago

Best Crypto to Buy Now: Top Picks for 2025 Growth Potential

Bitcoin's recent all-time highs have brought the cryptocurrency market to a crucial turning point that…

1 hour ago

Altcoin Millionaires Back This $0.04 AI Multichain Token for 8,500% Gains by 2025!

Leading figures in the cryptocurrency world are backing a new token that costs just four…

3 hours ago

What is ICO, and How Can It Be Conducted Properly?

Initial Coin Offerings (ICOs) is a way to raise funds in the blockchain and cryptocurrency…

4 hours ago

XRP to $4? We Are About to Witness One of the Biggest Pumps In Years

In a recent tweet, crypto enthusiast CoinsKid shared an XRP/BTC weekly chart, hinting at a…

4 hours ago

Next 10000% ROI Crypto? Why Rexas Finance (RXS) Is Being Compared to the Likes of Dogecoin (DOGE) and Solana (SOL)

Dogecoin (DOGE) attracted the attention of people all around and made casual investors crypto billionaires.…

4 hours ago