Voyager Concludes Token Sale: Transfers 12.89 Million USDC To Circle For USD
- Voyager concludes its token sale phase by transferring 12.89 million USDC to Circle for USD, marking the end of a process that saw the conversion of 97.89 million USDC through token sales.
- The majority of tokens have been sold and exchanged for USDC, with only 52.4 million VGX tokens remaining, reflecting Voyager’s adept approach to optimizing liquidity and asset value.
In a significant move, Voyager has completed the compensation process for its token sales, with the latest transfer of 12.89 million USDC to Circle for conversion into US dollars.
According to Chain analyst Yu Jin, this final transaction marks the culmination of Voyager’s token selling phase, which commenced on August 12. The journey towards compensation has been eventful, with a total of 97.89 million USDC being liquidated and withdrawn through token sales. This strategic approach has enabled Voyager to transform a substantial portion of its tokens into the stablecoin USDC, paving the way for subsequent withdrawals and conversions.
Voyager’s diligent efforts have translated into tangible results, as the majority of tokens have been successfully sold and exchanged for USDC. Exceptionally, only 52.4 million VGX tokens, equivalent to $6.3 million, remain within the firm’s holdings. Remarkably, the collective value of these remaining tokens stands at less than $200,000.
This strategic shift underscores the firm’s commitment to optimizing its asset portfolio and capitalizing on token sales to bolster liquidity. As the company navigates this phase, the move to convert VGX tokens into USDC reflects prudent financial management, aligning with market dynamics and growth strategies.
The successful culmination of Voyager‘s token compensation journey underscores their adept approach to maximizing asset value and liquidity. By capitalizing on strategic sales and exchanges, the firm reinforces its commitment to financial prudence and operational excellence within the ever-evolving cryptocurrency landscape.
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