Voyager Holds 2 Trillion Shiba Inu Marking 4th Largest Holding, Despite $250M Outflow

Voyager maintains a balance of over two trillion Shiba Inu (SHIB) tokens amid $250 million in withdrawals from the now-defunct crypto lending platform.

The net outflow from the bankrupt cryptocurrency brokerage platform Voyager Digital has recently hit a new milestone as customers continue to move their once-trapped crypto assets to safety. 

As disclosed today by blockchain reporter Colin Wu, the cumulative worth of various crypto assets moved out of Voyager within two weeks stood at $250 million at the time of the update. The Chinese reporter also revealed that Voyager reopened customer withdrawals on June 23.

Since reopening withdrawals to users on June 23, Voyager has seen a net outflow of $250 million worth of crypto assets. At present, there are 176 million USD worth of crypto assets on the platform, and the Clean Asset (excluding VGX) ratio is 96.15%, including 2,287.4 BTC,…

— Wu Blockchain (@WuBlockchain) July 10, 2023

This voluminous withdrawal seen on the platform within this short timeframe is not only from customers. It bears mentioning that the defunct crypto lender has been moving hefty amounts of crypto assets, including SHIB and ETH, to Coinbase, BinanceUS, and other exchanges to dump them. 

Over 5.62 trillion Shiba Inu tokens have been dumped by Voyager on exchanges since February 2023. Notably, Voyager transferred 255 billion Shiba Inu to six unknown wallets between June 29 and 30.  

Shiba Inu Tokens in Voyager Custody  

Amid the consistent shiftings of Shiba Inu tokens to unknown wallets and crypto exchanges by Voyager Digital, data shows that the company boasts of exactly 2,060 trillion SHIB worth $15.7 million at the time of writing. 

With this quantity, SHIB makes up 8.9% of Voyager’s overall crypto holdings. In comparison, Bitcoin and Ethereum constitute 39.1% and 28.9% of its balance sheet. In particular, Voyager holds 2,287.4 BTC, 27, 363.7 ETH, and many other crypto assets, including stablecoins, as of July 10. 

These many crypto assets contribute to Voyager’s total portfolio value standing at $176.38 million at press time, with a Clean Asset (excluding VGX) ratio of 96.15%, excluding its native token VGX. 

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• Source: https://thecryptobasic.com/2023/07/10/voyager-holds-2-trillion-shiba-inu-marking-4th-largest-holding-despite-250m-outflow/?utm_source=rss&utm_medium=rss&utm_campaign=voyager-holds-2-trillion-shiba-inu-marking-4th-largest-holding-despite-250m-outflow