- Alameda Research, the crypto trading firm cofounded by Sam Bankman-Fried, owes Voyager Digital Holdings US$377 million in loans.
- Voyager Digital signed a $500 million lending agreement with Alameda Ventures for a revolving credit line in Bitcoin and USDC.
- As of June 22, 9.5% of Voyager Digital shares were controlled by Alameda Research and its venture fund Alameda Ventures.
Alameda Research tweeted that it is happy to return the Voyager Digital loan and get back its collateral “whenever works for Voyager”. Previously, Voyager Digital’s bankruptcy filing showed that Alameda Research owes Voyager nearly $377 million.
happy to return the Voyager loan and get our collateral back whenever works for voyager
— Alameda Research (@AlamedaResearch) July 8, 2022
According to sources, Alameda Ventures and Voyager Digital entered a loan arrangement for a revolving credit facility of $500 million in Bitcoin and USDC. The two companies also have a strategic partnership agreement in which Alameda Research will provide liquidity to Voyager’s exchange. As of June 22, 9.5 percent of Voyager Digital shares were owned by Alameda Research and its venture fund Alameda Ventures.
Moreover, on Wednesday, Voyager filed for Chapter 11 bankruptcy in New York after it was revealed that it owed US$650 million to Three Arrows Capital (3AC), a bankrupt crypto firm. The court filing showed that 3AC is Voyager’s largest creditor, followed by Alameda Research.
FTX just extended a US$250 million revolving credit line to another 3AC-exposed business, BlockFi.
Voyager Digital Holdings is a digital asset broker and custodian that allows users to buy, sell, and trade cryptocurrencies. The company was founded in 2018 and is headquartered in New York City.
Alameda Research is a cryptocurrency trading firm that was founded in 2017. The firm is based in San Francisco and co-founded by Sam Bankman-Fried.
The crypto winter seems to be bringing the entire community to its knees as some cryptocurrency businesses cease operations, some declare bankruptcy, and yet others discontinue their offers.
Voyager has made it clear that they are concentrating on safeguarding assets and maximizing value for all clients. This follows Voyager’s formal ban on withdrawals, which was announced on Friday. 3AC’s issues are thought to be the source of the problem.