Voyager Digital Limited has issued a default notice to Three Arrows Capital (3AC) for failure to pay its loan obligations.
Pagal pranešimą spaudai, Voyager is owed 15,250 Bitcoin (approximately $325 million at the current price) and $350 million USDC. The firm said it would pursue legal action to recover the funds.
“Voyager intends to pursue recovery from 3AC and is in discussions with the Company’s advisors as to legal remedies available.”
Seeking help from Alameda Research
Birželio mėn. 22 Keliautojas implemented a $10,000 user withdrawal limit in response to the unfolding crypto deleveraging event.
Pasak jo Interneto svetainė, Voyager had agreed to a bailout deal with Alameda to help meet customer liquidity demands during “this dynamic period.” The bailout enabled Voyager to access $200 million in cash and revolving loans of 15,000 BTC and an undisclosed USDC amount.
“Voyager Digital Holdings, Inc. (“VDH”), has entered into a definitive agreement with Alameda Ventures Ltd. (“Alameda”) related to the previously disclosed credit facility, which is intended to help Voyager meet customer liquidity needs during this dynamic period.”
Alameda imposed several conditions on the bailout, such as the firm securing additional funding within 12 months. But chief among them was a $75 million drawdown limit over any 30-day rolling period.
The post also mentioned the company had asked 3AC for a $25 million USDC repayment by June 24 and the outstanding balance to be paid by June 27.
„Nė viena iš šių sumų nebuvo grąžinta, o 3AC nesugebėjimas grąžinti kurios nors prašomos sumos iki šių nurodytų datų bus laikomas įsipareigojimų nevykdymu.
Will Voyager follow through?
Keliautojas stated that it continues to fulfill customer orders and withdrawals, so far using $75 million of the Alameda credit line made available to them.
„Voyager“ generalinis direktorius Stephenas Ehrlichas further added that the company is working to strengthen its balance sheet and continues to pursue other options to meet liquidity demands.
„Mes kruopščiai ir operatyviai dirbame, kad sustiprintume savo balansą ir ieškome galimybių, kad galėtume ir toliau patenkinti klientų likvidumo poreikius.
In a recent tweet, 8Blocks Capital CEO Danny Yuan made similar claims, saying 3AC had ghosted him.
14) Losing a bet is one thing, but at least be honorable and not drag others into your bets who have nothing to do with it. Certainly don’t ghost on everyone since potentially, they could’ve helped you.
– Denis (@Danny8BC) Birželio 16, 2022
More to follow as the story unfolds.
Source: https://cryptoslate.com/voyager-issues-notice-of-default-to-3ac-over-675m-loan-obligations-legal-action-next/