Binance, the world’s largest cryptocurrency exchange, has terminated the $1 billion deal for the acquisition of Voyager Digital. However, many Voyager assets remained at risk of sale, including more than 3.1 trillion Shiba Inu (SHIB). With this event that deeply affected the market, prices crashed! So what’s next for the Shiba Inu? Here are the details…
Binance terminates the $1 Billion Voyager deal!
More than 3.1 trillion Shiba Inu (SHIB) coins have emerged in the crypto space, with Binance.US, the US arm of major cryptocurrency exchange Binance. It can be seen that it is released along with the tokens. Binance.US announced the decision in a recent tweet, stating that it was a difficult but necessary choice for the team. This decision was influenced by the growing regulatory uncertainty surrounding the crypto scene in the United States, according to the exchange.
https://t.co/AZwoBOgsqS has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager.
While our hope throughout this process was to help Voyager's customers access their crypto in kind, the hostile and uncertain regulatory climate…
— Binance.US 🇺🇸 (@BinanceUS) April 25, 2023
While experts point to the SEC and the leading New York regulator and regulators in Texas to challenge the Binance.US deal in February, the institutions are behind the opposition, including Binance.US’s affiliation with Binance and the security of the Binance.US platform. cited for various reasons. Despite objections, Binance.US continued to push for the settlement and sought to address these concerns in court. As a result, Judge Michael Wiles dismissed the objections as unfounded. Wiles has given approval for the purchase. However, Binance.US withdrew in light of recent sanctions actions from US regulators, primarily the SEC and CFTC.
So how will it affect the Shiba Inu?
The termination of the acquisition agreement indicates that Voyager will continue to liquidate crypto assets as originally intended to raise liquid funds to unite affected customers. Among these assets is the 3.1 trillion Shiba Inu savings found in one of his wallets.
cryptocoin.com As we reported, Voyager has been selling SHIB assets and other assets since the beginning of the year. But the bankrupt lender had to halt its distribution campaign with SHIB 3.1 trillion ($32.3 million) last month. The Shiba Inu represents the third largest asset on the balance sheet, after USDC ($129.5 million) and ETH ($72.9 million). It is not yet clear how this systematic dumping will affect the market, although market participants believe the impact will be minimal or nonexistent. 5.62 trillion Shiba Inu were launched in Voyager’s distribution campaign earlier this year.
Whale activities for SHIB drew attention!
Cryptocurrency whales continue to buy Shiba Inu (SHIB). Finally, Etherscan.io data reveals that the 19th largest owner of the Shiba Inu has purchased 168,375,992,729 SHIB worth $1.72 million in two separate transactions in the last 24 hours.
Whale’s buying spree started about four hours ago with a single transaction, adding 9,819.006,847 SHIB to the portfolio. But this was just the beginning. A few minutes later, the whale made another $1.62 million purchase, purchasing 158.55 billion SHIB. This massive accumulation brings Whale’s SHIB holdings to an astronomical 5,252,333,033,396 SHIB worth $54.09 million. On the other hand, this news comes just days after the top ETH Whale known as “BlueWhale0073” bought 311,998,734,794 SHIB worth $3.32 million in two separate transactions.
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