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- In the statement, they’ve revealed that the corporation owes them 15,250 BTC (Bitcoin) and 350 Million USD Coin (USDC).
- The stock closed at 0.05998 USD, marking a drop of 50.8% in a single trading day
- Coinbase stock suffered a 9.71% dip to $51.91, while the heavily BTC-exposed MicroStrategy led by Michael Saylor saw its shares drop 4.50% to $170.91
3AC owing Voyager Digital Big-Time
Have you heard of the controversy between Voyager Digital and Three Arrows Capital, commonly known as 3AC?
Well, if you haven’t, read the article to find out:
After the announcement made by Voyager Digital about their owed capital from Three Arrows Capital, commonly known as 3AC, it has been a sloppy downfall for the company.
In the statement, they’ve revealed that the corporation owes them 15,250 BTC (Bitcoin) and 350 Million USD Coin (USDC).
This accounts for a total of approximately 660 million dollars.
Actions Taken By Voyager Digital
- Voyager has given 3AC until June 24, 2022, to pay 25 million dollars.
- After the payment of the initial 25 million, the corporation needs to pay the whole amount without due before 27 June 2022.
- After the deadline, if the amount is not deposited, it will be considered as default.
- The company is reportedly working with a team of lawyers to work on legal actions to be taken on 3AC if they are unable to repay the amount they owe.
The VYGVF has dropped around 60%!!!
This was done during the regular trading hours on June 22. The stock closed at 0.05998 USD, marking a drop of 50.8% in a single trading day.
Other cryptocurrencies continue to struggle in the market. Coinbase stock suffered a 9.71% dip to $51.91, while the heavily BTC-exposed MicroStrategy led by Michael Saylor saw its shares drop 4.50% to $170.91.
ALSO READ: Crypto strategist alerts of the bitcoin price crash
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
