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HomeCrypto NewsShiba InuBinance US to Increase Its Shiba Inu Holdings by $76 Million

Binance US to Increase Its Shiba Inu Holdings by $76 Million

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Binance U.S., the US arm of the world’s largest cryptocurrency exchange, will increase its Shiba Inu (SHIB) position by tens of millions of dollars following the acquisition of bankrupt crypto broker Voyager Digital.

Voyager Crypto Asset Holdings

According to Nansen, a leading cryptocurrency analytics portal, the bankrupt cryptocurrency broker has SHIB tokens worth $76 million in its wallets.

According to Nansen, the total assets of Voyager Digital are worth $579 million. Shiba Inu makes up 13.1% of Voyager’s $579 million assets. Voyager’s third-largest crypto asset by dollar value is the leading canine-themed cryptocurrency. According to the data, Ethereum (ETH) is Voyager’s largest asset in terms of dollar value, with a value of $255 million. USDC is the second-largest asset, worth $81.7 million.

Shiba Inu is the third-largest crypto asset held in Voyager’s wallets, ranking ahead of Voyager (VGX), Polygon (MATIC), Chainlink (LINK), and Avalanche (AVL) (AVAX).

Read Also: Users Can Now Buy and Sell Shiba Inu Using a Bank Card

Binance Triumphs In  Bid for Voyager Assets

Binance U.S. won the bid to effectively bail out Voyager and then purchase the bankrupt cryptocurrency broker’s assets for more than $1 billion earlier this week. It’s worth noting that the auction to buy Voyager’s assets was previously won by the beleaguered cryptocurrency exchange FTX just before its demise. FTX won the auction after the infamous exchange made a $1.4 billion bid earlier this year.

However, the transaction failed when FTX experienced liquidity issues, prompting the exchange to declare bankruptcy. Following FTX’s demise, Binance CEO and founder Changpeng Zhao announced that Binance U.S. would make an offer for Voyager’s assets.

Binance U.S. made the highest and best bid for Voyager’s assets in a deal worth $1.022 billion, according to a press release on December 19.

Related Article: Binance Shuffles Around 1.89 Trillion Shiba Inu

“The Binance.US bid, which sets a clear path forward for Voyager customer funds to be unlocked as soon as possible, is valued at approximately $1.022 billion and is comprised of (i) the fair market value of Voyager’s cryptocurrency portfolio at a to-be-determined date in the future, which at current market prices is estimated to be $1.002 billion, plus (ii) additional consideration equal to $20 million of incremental value,” Voyager said in a statement.

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