Voyager Sends $85,000,000 in USDC to Circle As Bankruptcy Unfolds: On-Chain Data

Blockchain tracker Lookonchain says that the bankrupt crypto lender Voyager has deposited $85 million worth of the stablecoin USD Coin (USDC) with Circle.

Lookonchain notes that Voyager has been selling assets on Coinbase and has received $84.5 million worth of USDC from the exchange in total.

The embattled lender reportedly still holds $11.3 million worth of assets, including around $8.27 million of its native token VGX.

Lookonchain reports that it also holds $1.62 million worth of Bitcoin (BTC), $371,000 worth of the exchange token Kyber Network (KNC), $286,000 worth of the smart contract platform Fantom (FTM), $140,000 worth of shopping and rewards blockchain platform StormX (STMX), $111,000 worth of the play-to-earn blockchain gaming platform Gala (GALA), and around $526,000 worth of other assets.

Voyager went bankrupt in 2022 after troubled crypto firm Three Arrows Capital failed to pay back a loan worth hundreds of millions of dollars.

Earlier this year, Binance’s US subsidiary attempted to acquire the assets of the embattled crypto lender for a price of $1.3 billion. Binance.US later backed out of the acquisition, citing regulatory uncertainties in the US.

VGX is trading around $0.15 at time of writing. The 439th-ranked crypto asset by market cap is down nearly 4% in the past 24 hours.

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The post Voyager Sends $85,000,000 in USDC to Circle As Bankruptcy Unfolds: On-Chain Data appeared first on The Daily Hodl.