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Coinbase’s Purchase of Voyager’s Non-Performing Assets

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It is reported that Tom Wan, an analyst at 21Shares, the parent company of ETF issuer and 21. co, a crypto investment product company, released a tweet saying …

Coinbase’s Purchase of Voyager’s Non-Performing Assets

It is reported that Tom Wan, an analyst at 21Shares, the parent company of ETF issuer and 21. co, a crypto investment product company, released a tweet saying that according to the data on the chain, in the past two days, Coinbase transferred 100 million USDCs to Voyager, which means that Coinbase or an entity participated in the acquisition of Voyager’s non-performing assets through Coinbase.

21. Co analyst: Coinbase or participate in the acquisition of non-performing assets of Voyager

Interpretation of the news:


Tom Wan, an analyst at 21Shares, has reportedly released a tweet which suggests that Coinbase, a cryptocurrency exchange, or an entity associated with it, was involved in the acquisition of Voyager’s non-performing assets. The tweet explicitly states that Coinbase transferred 100 million USDCs to Voyager, based on blockchain data from the 2 days prior. This transaction could point to a strategic decision by Coinbase to acquire or invest in the assets that Voyager could not convert to cash, also known as non-performing assets.

Voyager, a US-based publicly-traded crypto brokerage firm, has been expanding its business operations through various partnerships and acquisitions. The company recently acquired LGO, a European cryptocurrency exchange, to expand its operations in Europe. Voyager’s acquisition strategy aims to establish itself as a major cryptocurrency brokerage firm, complemented by its retail trading business. However, these acquisitions also create a need for capital, which is where non-performing assets come into play.

According to Investopedia, non-performing assets are those loans that are in default or are close to being in default. In Voyager’s case, non-performing assets could refer to cryptocurrency holdings that cannot be converted into cash due to their low liquidity or lack of demand. Voyager’s non-performing assets could also refer to the company’s recent acquisitions, including LGO, which would require investment capital.

Coinbase, on the other hand, is known as one of the leading cryptocurrency exchanges with a user base of over 68 million. It has been expanding its services to institutional investors as well, which includes custody and staking. The transfer of 100 million USDC from Coinbase to Voyager could indicate a strategic decision to acquire Voyager’s non-performing assets, with a potential to convert them into cash or invest in them.

Overall, Tom Wan’s tweet provides insight into the potential acquisition strategy of Coinbase and its interest in Voyager’s non-performing assets. Since both Coinbase and Voyager are prominent names in the cryptocurrency industry, this transaction is worth monitoring. It can have significant implications for the cryptocurrency market and asset management practices for institutional investors.

In conclusion, this tweet provides an interesting development in the cryptocurrency industry, particularly for asset management practices. The acquisition of non-performing assets by Coinbase through Voyager points to potential investment opportunities within the cryptocurrency industry, and it’s worth watching to see how this story unfolds.

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