Voyager Sends 250B Shiba Inu to Coinbase Amid 5% Price Surge

The Shiba Inu tokens are part of $28.7M worth of crypto assets recently sent to BinanceUS and Coinbase by the bankrupt broker.

Voyager, the bankrupt crypto brokerage firm, recently transferred $28.7 million of crypto assets to Coinbase and Binance US. 250B Shiba Inu tokens valued at $3.4 million were sent to Coinbase.

The development comes amid the latest market-wide recovery that has led to a 5.66% surge in Shiba Inu’s price as the asset reclaims the $0.0000137 territory, currently trading for $0.00001371.

The recent movement from Voyager also included up to 15,000 Ethereum (ETH), valued at $25.3 million, which were transferred to Coinbase and BinanceUS, according to blockchain security resource PeckShield.

#PeckShieldAlert Voyager has transferred $28.7M worth of cryptos to crypto-exchanges, including 15k $ETH ($25.3M) to BinanceUS & Coinbase ($ETH at $1,675) & 250B $SHIB ($3.4M) to Coinbase
Voyager received 105k $ETH ($ETH at $1,559 on the day of transfer) from FTX on 7th Sep. 2022 https://t.co/WiFFMRgQr0 pic.twitter.com/qw0uYvXNka

— PeckShieldAlert (@PeckShieldAlert) February 16, 2023

Data from Etherscan reveals that the SHIB transfer to Coinbase occurred yesterday at 21:09 (UTC). Shortly after this movement, the bankrupt broker sent 10,000 ETH tokens worth $16.9 million to Binance US at 21:46 (UTC). The last transaction involved the transfer of 5,000 ETH ($8.46 million) to Coinbase a few seconds later. Voyager still holds 1.6 trillion SHIB ($23.5M) as press time, the second largest single holding on the wallet.

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It bears mentioning that Voyager made similar transfers to Binance US and Coinbase the previous day. As highlighted by PeckShield, the embattled crypto lending platform had sent 7,000 ETH to the two American exchanges on Feb. 14, with 6,000 ETH going to Binance US and 1,000 ETH to Coinbase. Recall that Voyager had received a whopping 105,000 ETH from FTX last September, two months before the FTX collapse.

Moreover, The Crypto Basic reported three SHIB transactions from Voyager to Kraken, Coinbase, and Binance US earlier this month. The transfers, which triggered concerns of a SHIB dump, involved a cumulative amount of 270B Shiba Inu. There is limited knowledge of the purpose of these transfers, and Voyager has not granted a request for comment as of press time.

Voyager’s Deal with Binance US 

Notwithstanding, Voyager’s connection to Binance US is not a mystery among crypto proponents. The American exchange entered a deal to purchase Voyager’s assets last December after the bankrupt broker’s previous deal with FTX went void in the wake of the FTX implosion. Last month, a US judge gave Voyager the green light to sell its assets to Binance US despite the SEC’s initial objection.

As the acquisition deal inches closer, last Thursday’s reports suggested that Binance US and Voyager had engineered a plan to enable Voyager’s customers to withdraw their assets through Binance US accounts. As revealed in a court filing, both entities expect payments to begin in March though customers might not recover all their assets.

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