In a significant move that has sent ripples through the cryptocurrency market, Voyager Digital Ltd. has transferred $150M worth of USDC stablecoin to Circle for USD cash. The transfer, which occurred just 6 hours ago, marks one of the most significant trades recently.
This comes after two addresses belonging to Voyager received a staggering $610M in USDC by selling off significant tokens like Ethereum (ETH), Voyager Token (VGX), and Shiba Inu (SHIB) in the past month. The move has been interpreted by many as a signal of Voyager’s confidence in the USD and its desire to liquidate its crypto holdings.
This comes after a recent report by Reuters that stated that United States District Judge Jennifer Rearden has temporarily banned the transfer of Voyager tokens to the cryptocurrency exchange Binance, which is situated in the United States.
Previously, the deal was given the go-light by a state of New York court. On the other hand, the Department of Justice and the regulatory agency have filed appeals against the ruling. They requested more time to investigate the matter further.
It was revealed earlier this month that Voyager was liquidating assets on the Coinbase cryptocurrency platform. Wintermute Trading, Binance US, and Coinbase were the sources of at least 33.7 million USDC sent to the centralized financing.
At press time, the Voyager token was trading in a bullish environment, with bulls gaining control of the market and driving the price up by 1.79% to $0.3335 within a 24-hour range that saw support and resistance at $0.3197 and $0.3349, respectively.
