Voyager, a cryptocurrency company, recently sent digital assets to Coinbase to fulfill financial commitments.
The transfer included 1500 Ether (ETH) valued at $2.77 million and 250 billion SHIB tokens valued at $2.7 million. This move comes as Voyager continues its operations, shifting tokens from auxiliary addresses to principal ones.
Despite facing financial challenges, Voyager successfully resolved cryptocurrency claims from its users, indicating an upcoming fiat compensation process.
This involves converting the remaining bitcoin assets to dollars and distributing them to users. Previously, users could choose to redeem 35.72% of their tokens before selling or opt for USD reimbursement 30 days after token liquidation.
Voyager’s addresses currently hold various cryptocurrencies worth around $81.63 million. The plan is to gradually sell these holdings in the coming months.
Consumer withdrawals began on June 24 as a response to bankruptcy circumstances, allowing users access to 35.72% of their digital assets while awaiting full recovery.
In the past, Voyager was a significant crypto lending platform with 3.5 million users, primarily with balances under $10,000. However, challenges during the 2021 bear market led to a decline and change in Voyager’s outlook from optimism to insolvency.
