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- Voyager gave 3AC a deadline to make the complete payment before 27 June 2022. If not deposited, it will be considered as default.
- On June 27, 2022, Voyager Digital announced on the internet that the company has issued a notice of default to 3 Arrows Capital for the failure of returning the financial sum of 15,250 BTC and 350 Million USD they owe the corporation.
- Due to all the legal obligations happening on the subject of the case. Voyager Digital submitted a forward-looking statement predicting or projecting the future possibilities and probabilities.
What Is the Fuzz All About?
As we know, Voyager and 3AC have been a part of a massive financial battle this month.
In a statement given by Voyager Digital, they’ve revealed that 3AC owes them 15,250 BTC (Bitcoin) and 350 Million USD Coin (USDC).
This gives us a sum of 660 million dollars.
Voyager gave 3AC a deadline to make the complete payment before 27 June 2022. If not deposited, it will be considered as default.
On June 27, 2022, Voyager Digital announced on the internet that the company has issued a notice of default to 3 Arrows Capital for the failure of returning the financial sum of 15,250 BTC and 350 Million USD they owe the corporation.
Stephen Ehrlich, Chief Executive Officer of Voyager stated that they are working diligently and expeditiously to strengthen their balance sheet and pursue options so they can continue to meet customer liquidity demands.
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Future Possibilities
Due to all the legal obligations happening on the subject of the case. Voyager Digital submitted a forward-looking statement predicting or projecting the future possibilities and probabilities.
Some of the important points put forward by the statement are:
- Forward-looking statements contain known and unknown risks, uncertainties, and other elements that could cause Voyager’s actual results, performance, or achievements to vary substantially from any projections made in the statements.
- In addition, the environment in which they work is very competitive and evolving quickly. Occasionally, new threats surface.
- Voyager’s management cannot forecast all risks, evaluate all variables’ effects on the company, or determine the amount to which any one factor, or a combination of factors, may cause actual results to substantially differ from any forward-looking statements they may make.
- There is no assurance that the transactions contemplated by the non-binding term sheet will be completed or if completed they will be on the terms agreed.
- There is no assurance that the funds available under the loan agreement will be available or, even if available will, together with any other assets of Voyager be sufficient to safeguard customer assets.
- If the customer withdrawal amounts become larger than the company’s reserves, The corporation will not be able to satisfy all of the requests of the customers
The reply from the executives of Three Arrows Capital is still very much awaited. Due to violating the deadlines issued by Voyager Digital, legal actions are going to be taken against 3AC in the upcoming days.
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.
