Voyager has withdrawn $344 million in USDC from exchanges so far: Arkham

Bankrupt crypto lender Voyager has transferred $344.5 million in USDC from Coinbase and market makers like Wintermute since it began liquidating funds on January 24.

In February, Voyager withdrew $204 million of USDC, while so far this month it has transferred out $117.84 million of USDC as of 02:30 PM ET on March 7, according to on-chain data provided by Arkham Intelligence. Data from Etherscan shows two more withdrawals today totaling $22.26 million worth of USDC.

The company has been sending crypto tokens to exchanges and withdrawing USDC, which suggests it is selling the assets. Voyager has so far deposited $66.8 million worth of crypto assets to exchange-labelled addresses this month, according to Etherscan data. The largest of these deposits have been $39.2 million in ether and $20 million in SHIB.

 The size of the withdrawals in March point to an uptick in crypto liquidations by Voyager. Arkham previously stated that Voyager was liquidating its assets at a rate of about $100 million per week.

Binance.US received approval from a U.S. federal court on March 7 to proceed with its planned acquisition of the failed crypto lender.