Binance.US recently announced that it will buy the assets of bankrupt crypto lender Voyager Digital. Now, data provided by Nansen shows that these wallets are filled with 7 altcoins.
These 7 altcoins were found in Voyager’s accounts
Crypto analytics portal Nansen has found that bankrupt crypto lender Voyager has $76 million worth of Shiba Inu (SHIB) in its wallets. SHIB represents 13.1% of Voyager’s $579 million portfolio. Before the Shiba Inu, Ethereum and USDC were the largest assets of the portfolio. According to Nansen data, the altcoins and dollar amounts in the Voyager wallets obtained by Binance.US are as follows:
- Ethereum (ETH) – $225 million
- USD Coin (USDC) – $81.7 million
- Shiba Inu (SHIB) – $76 million
- Voyager Token (VGX) – $62 million
- Polygon (MATIC) – $29 million
- Chainlink (LINK) – $18.5 million
- Avalanche (AVAX) – $10.2 million
As Binance US wins the bid to acquire Voyager assets, let's take a look at some of Voyager's current crypto holdings, from addresses we have labeled:
Total worth ~$579M:$ETH ~$255M$USDC $81.7M$SHIB ~$76M$VBX ~$62M$MATIC ~$29M$LINK ~$18.5M$AVAX ~$10.2M
and others pic.twitter.com/i5hlArNXzn
— Nansen 🧭 (@nansen_ai) December 20, 2022
Binance.US buys Voyager’s assets for $1 billion
cryptocoin.com As we have reported, the news first appeared on December 19th. Following the announcement, Voyager Digital’s cryptocurrency VGX rallied around 30%. In details, Voyager Digital announced that Binance.US has won a second bidding process following FTX’s filing for bankruptcy, paving the way for possible resolution for the platform’s 1.7 million users.
The company had billions of dollars worth of cryptocurrencies by the end of 2021. However, a market downturn and a series of bad investments, including Three Arrows Capital and Alameda Research, took the company’s existing capital. Meanwhile, Binance.US is the US arm of Binance. It operates as a “de facto subsidiary” of Binance International.
After a review of strategic options focused on maximizing value returned to customers on an expedited timeframe, @BinanceUS has been selected as the highest and best bidder for our assets. Press release below. More information to follow for customers.https://t.co/HcESIpIzgm
— Voyager (@investvoyager) December 19, 2022
More than 1.7 million Voyager users are waiting to get their crypto investment back. When FTX’s deal was announced, users would receive an account credit as well as custody of certain cryptocurrencies that FTX supported. But weeks later, Voyager, like many other FTX acquisition targets, was in trouble after the disclosure of a multi-billion-dollar balance sheet deficit drove FTX into bankruptcy. At this time, it is not yet clear how the pending acquisition of Voyager will affect Binance’s stake in the FTX-Alameda bankruptcy. VGX price drops in double digits on December 20 after briefly rising after the news.
Voyager’s bankruptcy and altcoin portfolio
Voyager paused withdrawals in July due to its relationship with the bankrupt Three Arrows Capital. Shortly after that, she officially declared bankruptcy. 20 in a Twitter post, Voyager’s unsecured creditors committee said it believed the Binance.US offering “seems to be the best deal at the moment” but is “still evaluating it” given the limited time frame. The decision came only after Voyager was notified of its intention to accept the offer on December 8.
Voyager currently has a portfolio of $579 million. 79% of VGX is on exchanges, with 188.4 million on Voyager followed by Binance with 37.9 million VGX.
