Unlocking Withdrawals from Bankrupt Crypto Platform: A Massive $250 Million Exodus

  • Voyager Digital, a cryptocurrency lending platform, resumed withdrawal operations after a bankruptcy process, resulting in a significant outflow of funds.
  • Before the resumption of withdrawals, the platform had a total balance of over $426 million, but after the reopening, there was a net outflow of $250 million in cryptocurrencies.
  • The remaining assets on the platform consist mainly of Bitcoin and Ethereum, accounting for 68% of the total.

Voyager Digital Resumes Withdrawals, Leading to Significant Outflow of Funds

Voyager Digital, a cryptocurrency lending platform, has successfully completed its liquidation process and resumed withdrawal operations on June 23. This development has led to a significant outflow of funds, with users withdrawing a total of $250 million in cryptocurrencies from the platform.

Net Outflow of Funds After Resumption of Withdrawals

According to data provided by Dune Analytics, prior to the reopening of withdrawals, Voyager Digital had a total balance of over $426 million. However, after the resumption, there was a net outflow of $250 million in cryptocurrencies. This indicates that many users took advantage of the opportunity to withdraw their funds from the platform.

The withdrawn cryptocurrencies include 2,287 Bitcoin (BTC), 27,363 Ether (ETH), 18.56 million USD Coin (USDC), 2 trillion Shiba Inu (SHIB), and a small portion of other tokens, amounting to approximately $176.4 million.

Main Assets on the Platform

The remaining assets on the Voyager Digital platform primarily consist of Bitcoin and Ethereum, which account for 68% of the total. These two cryptocurrencies have proven to be the most popular and widely held assets among users.

It is worth noting that the platform’s native token, VGX, is not included in the aforementioned figures as it is not considered a clean asset. Therefore, the actual value of the platform’s assets may be higher when accounting for VGX.

Overall, the resumption of withdrawal operations on Voyager Digital has resulted in a significant outflow of funds, indicating that users are eager to regain control of their cryptocurrencies. The platform’s focus on Bitcoin and Ethereum as the main assets reflects the continued popularity and demand for these leading cryptocurrencies in the market.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

UPBIT Announces Termination of Loom Network (LOOM) Transaction Support on 5/7 at 15:00

UPBIT Announces Termination of Loom Network (LOOM) Transaction Support...

XRP Dominates Korean Market with 21.99% Trading Volume Share on Upbit

According to recent data from CoinGecko, Upbit has seen...

Fidelity Digital Assets Predicts Bitcoin on the Brink of Next Acceleration Phase Despite Recent Volatility

The increasing scrutiny of Bitcoin's market trajectory has generated...

BTC Price Outlook: Can Bitcoin Break Above $85,000 Amid Fed’s Restrictive Monetary Policy?

The President of the New York Federal Reserve recently...

Massive ETH Deposit of 3,732 Coins into Coinbase Signals Significant Market Movements

COINOTAG News reports on April 1st that an address...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img