• Voyager, a bankrupt crypto lender, has sent $85 million USDC to Circle.
• The funds came from the sale of Voyager’s assets on Coinbase.
• Voyager still holds $11.3 million worth of assets, including VGX tokens and Bitcoin (BTC).
Voyager Sends $85 Million in USDC to Circle
The blockchain tracker Lookonchain reported that the bankrupt crypto lender Voyager has deposited $85 million worth of the stablecoin USD Coin (USDC) with Circle. The funds came from the sale of Voyager’s assets on Coinbase, where they received a total of $84.5 million worth of USDC.
Remaining Assets Held by Voyager
In addition to the USDC sent to Circle, Lookonchain reported that Voyager still holds $11.3 million worth of assets in their portfolio. This includes around $8.27 million worth of its native token VGX as well as other assets such as Bitcoin (BTC), Kyber Network (KNC), Fantom (FTM), StormX (STMX), Gala (GALA) and more totaling up to about $526,000 in value.
Voyager’s Bankruptcy and Binance Acquisition Attempt
Voyager originally went bankrupt in 2022 following troubled crypto firm Three Arrows Capital failing to pay back a loan worth hundreds of millions of dollars. Earlier this year, Binance’s U.S subsidiary attempted to acquire the company for a price tag of $1.3 billion but eventually backed out due to regulatory uncertainties in the United States regarding cryptocurrency companies and transactions thereof.
VGX Token Performance
At time of writing, Voyagers native token VGX is trading around at about $0.15 per unit with its market cap ranking 439th amongst other cryptocurrencies according to CoinMarketCap data points.. In the last 24 hours it has dropped nearly 4%.
Despite all odds against them during these difficult times for crypto companies especially after experiencing bankruptcy and failed acquisition attempts from Binance’s U.S arm; Voyager is still managing its remaining assets in an efficient manner while ensuring that it honors any obligations towards creditors or third-party partners which may arise due to their financial status quo even if it means having minimal returns off their holdings in terms of VGX tokens or otherwise