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Binance US is increasing its Shiba Inu holdings.
The US arm of the world’s largest cryptocurrency exchange, Binance US, is set to increase its position in Shiba Inu (SHIB) by tens of millions of dollars after acquiring bankrupt crypto broker Voyager Digital.
Voyager Crypto Asset Holdings
According to data shared by Nansen, a leading cryptocurrency analytics portal, the bankrupt cryptocurrency broker has $76 million worth of SHIB tokens in its wallets.
According to Nansen, Voyager Digital’s total assets are US$579 million. Shiba Inu accounts for 13.1% of Voyager’s $579 million fortune. The leading dog-themed cryptocurrency is ranked as Voyager’s third largest crypto asset by dollar value. The data further shows that Ethereum (ETH), valued at $255 million, is Voyager’s largest asset by dollar value. The second largest asset is USDC valued at $81.7 million.
With Shiba Inu being the third largest crypto asset in Voyager wallets, the prominent dog-themed token ranks ahead of Voyager (VGX), Polygon (MATIC), Chainlink (LINK) and Avalanche (AVAX).
As Binance US wins the bid to acquire Voyager assets, let’s take a look at some of Voyager’s current crypto holdings, from addresses we’ve flagged:
Total value ~$579 million:$ETH ~$255 million$USDC $81.7M$SHIB ~$76 million$VBX ~$62M$MATIC ~$29 million$LINK ~$18.5 million$AVAX ~$10.2M
and other pic.twitter.com/i5hlArNXzn
— Nansen 🧭 (@nansen_ai) December 20, 2022
Binance Wins Bid to Acquire Voyager Assets
Earlier this week, Binance US won the bid to effectively bail out Voyager and subsequently buy the bankrupt cryptocurrency broker’s assets for over $1 billion. It is worth noting that the auction to buy Voyager’s assets just before its collapse was won by embattled cryptocurrency exchange FTX. FTX became the winner of the auction after the notorious exchange placed a $1.4 billion bid earlier this year.
However, the deal ended unsuccessfully after FTX encountered liquidity issues that prompted the exchange to file for bankruptcy. Following the fall of FTX, Binance CEO and founder Changpeng Zhao announced that Binance US would make an offer for Voyager’s assets.
Voyager noted in a Dec. 19 press release that Binance US had the highest and best bid for its assets in a deal valued at $1.022 billion.
“Binance.US’ offering, which provides a clear path for unlocking Voyager client funds as quickly as possible, is valued at approximately $1.022 billion and consists of (i) the fair market value of Voyager’s cryptocurrency portfolio as of a date in the Future valued at $1.002 billion at current market prices plus (ii) $20 million of additional consideration in incremental value,” Voyager said in a statement.
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