Bankrupt Platform Voyager Witnesses $250 Million Worth of Crypto Assets Withdrawn as Users Opt for Self-Custody
- Voyager witnesses a massive $250 million worth of crypto assets withdrawn as users opt for self-custody.
- Remaining assets on the platform include Bitcoin, Ethereum, USD Coin, and an astonishing amount of Shiba Inu tokens.
- The cryptocurrency market remains unaffected by the withdrawals, indicating a broader trend towards self-custody.
- The rise of self-custody reflects the importance of direct control over digital assets in the crypto movement, posing a balancing act for platforms like Voyager.
Voyager, the digital asset platform, reopened withdrawals and saw a whopping $250 million flee the nest. Remaining assets include Bitcoin, Ethereum, USD Coin, and enough Shiba Inu tokens to last a lifetime. Despite the exodus, the crypto market remains unfazed, reflecting a growing trend of self-custody among investors.
Picture this: the Voyager platform, like a fancy hotel, finally reopened its doors for guests to check out. And boy, did they check out in style! A whopping $250 million worth of crypto assets bid farewell to their cozy home on Voyager. It’s like the crypto version of a massive moving day where everyone decides it’s time to go solo.
FYI – if you get this email it’s a fake one for all @investvoyager customers. Remember, you can go take your crypto OFF of voyager RIGHT NOW but just go through the app and not a stupid email link. Don’t be ridiculous… like the Voyager withdrawal wait times) pic.twitter.com/9qJvsNhNXe
— Digital Asset News (@NewsAsset) July 3, 2023
Voyager’s Digital Ghost town….
But hey, what’s left behind in Voyager’s digital ghost town? Let’s take a peek. The remaining assets, excluding Voyager’s native token VGX, include 2,287.4 Bitcoin (BTC), 27,363.7 Ethereum (ETH), 18,558,340 USD Coin (USDC), and wait for it… an astounding 2,060 trillion Shiba Inu (SHIB) tokens. That’s enough Shiba Inu to fill a virtual dog park!
Now, you might be wondering, with such a massive offboarding, did the crypto market break a sweat? Surprisingly, no! It turns out the market shrugged off the withdrawals like a superhero shrugging off a pesky mosquito. This lack of impact suggests that this exodus aligns with a larger trend: the migration of assets away from centralized platforms. It’s like everyone decided to build their own little fortresses and keep their precious crypto close.
This brings us to the rise of self-custody in the crypto movement. Self-custody, my friends, is like being your own superhero. It means taking direct control of your digital assets instead of relying on those stuffy third-party institutions. Remember that old saying, “not your keys, not your coins”? Well, it rings true for many crypto enthusiasts who believe in safeguarding their investments with their own digital fortress.
So, why did these brave crypto souls withdraw their funds from Voyager? Well, it seems like they’re part of a bigger trend. It’s as if investors everywhere collectively shouted, “We want self-custody!” And can you blame them? Who wouldn’t want to be the master of their crypto destiny?
Now, let’s give Voyager a round of applause. They faced the challenge of finding balance in this wild crypto world. It’s like walking a tightrope between being a convenient custodial service and meeting the growing demand for self-custody. It’s a bit like trying to juggle kittens and flaming torches. Tricky business, indeed!
To Sum it All Up….
In conclusion, Voyager’s grand reopening of withdrawals led to a jaw-dropping $250 million escape, leaving the platform with a reduced asset value of $176 million. But fear not, fellow crypto adventurers, the market remains unfazed. It’s all part of a larger trend, a movement towards self-custody, where investors want to hold the keys to their own digital kingdoms.
As the crypto world continues to evolve, platforms like Voyager will need to find that delicate balance. It’s like dancing on a tightrope while juggling unicorns and magical memes. So, strap on your seatbelts, my friends, and get ready for more exciting twists and turns in this ever-evolving crypto rollercoaster.
Remember, in the world of self-custody, you hold the keys to your crypto kingdom. Happy hodling, my fellow adventurers, and may your crypto journey be as wild and thrilling as a unicorn riding a rocket to the moon!
