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Voyager crypto firm loaned US$377 mln to Sam Bankman-Fried’s Alameda Research

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  • Voyager Digital entered a loan agreement for a revolving credit facility of US$500 million
  • BTC Price at the time of writing – $20,482.61
  • Alameda Ventures owned 9.5% of Voyager Digital shares

Alameda Research, the crypto exchanging firm helped to establish by Sam Bankman-Fried, owes Voyager Digital Holdings US$377 million in credits, as per the crypto agent’s new chapter 11 documenting.

Explorer Digital entered a credit understanding for a spinning credit office of US$500 million in Bitcoin and USDC from Alameda Ventures.

Alameda’s debt to Voyager is the second largest after 3AC.

Alameda Research and its endeavor reserve Alameda Ventures possessed 9.5% of Voyager Digital offers, as of June 22.

Explorer petitioned for Chapter 11 liquidation in New York on Wednesday because of a US$650 million openness to individual bankrupt crypto firm Three Arrows Capital (3AC). Alameda’s obligation to Voyager is the second biggest after 3AC.

Bankman-Fried’s FTX as of late expanded a US$250 million rotating credit office to another 3AC-uncovered firm, BlockFi.

ALSO READ: One Billion Citizens’ Details Sold for 10 BTC

Voyager Digital files for bankruptcy

In one more significant mishap to the crypto business, the US-based crypto specialist and moneylender Voyager Digital on Tuesday petitioned for the liquidation cycle. The firm, through the liquidation technique, means to expand an incentive for every one of its partners, it said in an explanation. 

It means to pay its workers in a typical way and proceed with their essential advantages and certain client programs without disturbance. Exchanging, stores, withdrawals, and reliability awards on the Voyager stage remain briefly suspended.

Established in 2018, it has around $1.3 billion of crypto resources on its foundation, in addition to claims against Singapore-based Three Arrows Capital (“3AC”) of more than $650 million.

The Three Arrows Capital has defaulted on different advances and is in hot water. This exhaustive revamping is the most effective way to safeguard resources on the stage and boost an incentive for all partners, including clients, said Stephen Ehrlich, Chief Executive Officer of Voyager in the explanation.

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