Voyager Digital has announced issuing a notice of default to Three Arrows Capital following a failure to meet payments obligations.
US-based cryptocurrency platform, Voyager Digital, issued a notice of default to Three Arrows Capital as the latter has failed to make the required payments on previously disclosed loans.back on June 22nd, Voyager Digital came out with a statement that the company had exposure worth some $500 million to Three Arrows Capital – a cryptocurrency hedge fund that’s now supposedly insolvent.
Voyager also revealed that it intends to pursue recovery from 3AC but that it’s also “unable to assess at this point the amount it will be able to recover.”, Voyager Digital LLC – a subsidiary of Voyager Digital LTD – announced that it has issued a notice of default to 3AC “for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC.”
It’s worth noting that the company also received a $500 million credit facility from Alameda Ventures and has already accessed $75 million of the line of credit. In addition, “it may continue to make use of the Alameda to facilitate customer orders and withdrawals, as needed.”Speaking on the matter was Stephen Ehrlich, Chief Executive Officer of Voyager, who said:
We are working diligently and expeditiously to strengthen our balance sheet and pursuing options so we can continue to meet customer liquidity demands.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Voyager Digital issues notice of default to Three Arrows CapitalVoyager disclosed that the exchange currently has $137 million in cash and crypto and access to the loaned funds provided by Alameda Research.
Read more »
Crypto Hedge Fund at Center of Crisis Faces Risk of Default as Deadline to Repay $670 Million NearsThree Arrows Capital, or 3AC, is facing a liquidity crisis after the collapse of terraUSD, margin calls on its loans and a massive slump in the crypto market.
Read more »
Predraft workouts sold Spurs on Branham, WesleyGoing against each other during three-on-three games, Malaki Branham and Blake Wesley...
Read more »
CBDC Ensures Nigeria Remains Competitive in Increasingly Digital World — Central Bank Governor – Emerging Markets Bitcoin NewsGodwin Emefiele said a digital currency 'would be necessary in the future to ensure Nigeria is competitive as the world becomes increasingly digital.' cbn digitaleconomy cbdc
Read more »
Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure – Bitcoin NewsThe crypto company Voyager has secured funds from Alameda Ventures in order to get more access to liquidity.
Read more »
Russia defaults on foreign debt for first time since 1918 following sanctionsRussia has defaulted on its foreign-currency sovereign debt for the first time since 1918 because of Western sanctions imposed over its invasion of Ukraine.
Read more »