Blockchain analytics firm PeckShield detected massive transfers of Shiba Inu (SHIB) and Ethereum (ETH) tokens to Coinbase in the early hours today. The transactions originated from bankrupt crypto lender Voyager Digital's wallets.
Transaction Breakdown
- 250 billion SHIB ($3.36 million at transfer time)
- 2,500 ETH ($4.2 million valuation)
- Additional 249,614 OCEAN tokens (~$117,141)
Voyager's Recent Asset Movements
The insolvent lender has been systematically moving assets to major exchanges:
- Previous transfers to Binance US (approved by court in January)
- Multiple Coinbase deposits this week
- Total moved in past 24 hours: ~$117,148.6
Market Implications
Experts suggest two potential scenarios:
- Debt liquidation: Selling assets to repay creditors
- Price pressure: Large SHIB/ETH dumps could temporarily suppress prices
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Frequently Asked Questions
Q: Why is Voyager transferring crypto now?
A: This appears part of their court-approved bankruptcy proceedings to convert assets for creditor repayments.
Q: Could this trigger a SHIB price crash?
A: While 250B SHIB represents significant sell pressure, the meme coin's market cap (~$15B) may absorb the impact unless panic selling follows.
Q: What happens to remaining Voyager assets?
A: The estate will continue liquidating holdings through approved channels until all creditor obligations are met.
👉 Learn how to analyze blockchain transactions
Regulatory Context
Voyager Digital collapsed in July 2022 after:
- Exposure to Three Arrows Capital (3AC) default
- Crypto market downturn
- Subsequent bankruptcy filing
The platform's asset distribution is now supervised by US bankruptcy courts, with Binance US acquiring certain assets earlier this year.
All transferred amounts represent on-chain values at transaction time. Market fluctuations may alter current valuations.
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