Voyager token surges after nearly one-third of supply is burned

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By BitcoinWiki News

Key Takeaways:

– Bankrupt crypto lender Voyager’s VGX token surged by almost 18% after burning about a third of the supply.
– Approximately 83 million tokens were sent to burn addresses in two transactions.
– The price rose from around $0.12 to as high as $0.14, and it is now just over $0.13.
– Changes to Voyager’s multisig ownership can enable new VGX token minting.
– The move to burn tokens appears intentional, according to Miguel Morel, CEO of Arkham Intelligence.
– Voyager filed for Chapter 11 bankruptcy protection on July 6, 2022.
– Lawyers involved in Voyager’s bankruptcy did not comment on the situation.
– This article is for informational purposes only and does not offer legal, tax, investment, financial, or other advice.


Voyager, a bankrupt crypto lender, experienced an 18% surge in its VGX token after nearly a third of the token supply was burned. Around 83 million tokens were sent to burn addresses in two transactions, causing the price to rise from $0.12 to $0.14 before settling just above $0.13. The move appears intentional, according to Miguel Morel, CEO of Arkham Intelligence, although the motivation behind it remains unclear. Changes to Voyager’s multisig ownership could allow the creation of new VGX tokens. Voyager filed for Chapter 11 bankruptcy protection on July 6, 2022. Lawyers involved in the bankruptcy did not comment on the token burning.

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