Voyager’s Massive Crypto Move: Exchange Transfer And USDC Withdrawal!

#PeckShieldAlert Voyager-labeled addresses have transferred ~$27M worth of cryptos, including 15k $ETH (worth ~$23.4M) & 7M $VGX to crypto exchanges, i.e. Coinbase & Binance US and received ~2M $USDC from Binance US within the last 1 hourhttps://t.co/y2AbYdwphB pic.twitter.com/Fc5bUFwI2J

— PeckShieldAlert (@PeckShieldAlert) March 9, 2023

The transfer included 15,000 ETH and 7 million VGX. In return, Binance US sent about 2 million USDC to the same address within an hour. This news comes after reports that Voyager has been selling crypto assets through Coinbase almost every day since February 14.

The reported transfer coincides with the recent news that Binance.US has acquired the assets of Voyager Digital. The acquisition is still subject to regulatory approval.

It is unclear what the purpose of the transfer was, but it could be related to the acquisition. The timing suggests that Voyager may be liquidating assets ahead of the acquisition. However, this is purely speculative as there is no official statement from either Voyager or Binance.US regarding the transfer.

As the crypto market continues to grow, investors must exercise caution and conduct thorough due diligence before investing. Monitoring the movements of large cryptocurrency holders and exchanges is crucial to stay informed of potential market-moving events.

While the reasons for the transfer are still unknown, the liquidation of assets may be related to the regulatory hurdles that the Binance.US and Voyager Digital acquisition is still facing. A judge approved the acquisition on February 16 but still requires approval from the New York State Department of Financial Services.

The cryptocurrency industry has seen a surge in M&A activity in recent years as companies look to expand their offerings and reach. The acquisition of Voyager Digital by Binance.US is just one example of this trend. As the industry continues to grow and mature, we can expect to see more consolidation and strategic partnerships.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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