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- Alameda to pay its remaining loan to Voyager Digital by 30 September.
- The repayment of loans is to be done by paying Bitcoin,Ether and several other cryptocurrencies.
Alameda Research, a trading firm, will have to pay back around $200 million in loans to crypto lender Voyager Digital.
Alameda will pay back around 6,553 bitcoin for around $126 million and 51,204 ether, amounting to around $69 million in principle and loan fees as well as smaller amounts in several different tokens. Per the court filing on September 19th, the loans have to be paid by September 30th positively.
If clearing the loan goes smoothly, Voyager will return to Alameda’s locked collateral which the firm deposited to available loans.
On Tuesday, September 5th, 2022, Voyager Digital filed a notice with the US Bankruptcy Court of New York. The notice from the bankrupt crypto lender came in the wake of informing the court of the company’s objective to organise an auction of overall remaining digital assets.
Voyager’s filing proposed holding the auction on September 13th, 2022. The venue for this event was said to be the Manhattan office of Moelis & Company, an investment banker of Voyager Digital.
On September 7th, Voyager posted on Twitter about the bidding procedure and informed us about multiple registrations for the bidding process.
The locked collateral comprises 4,650,000 native tokens of FTX valued at around $ 111 million and 63,750,000 SRM tokens(the native token of Serum) amounting to around $49 million.
Earlier on September 19th, 2022, TheCoinRepublic reported that This week, an auction was organised by the court of bankruptcy to sell Voyager’s assets. The last round was a struggle between FTX exchange, founded by Sam Bankman-Fried, and Wave Financial.
According to a media report, FTX and Binance attempted to acquire the bankrupt company. FTX had bid for the bankrupt company but eventually declined in July, giving the reason for a “low-ball bid.”
The bidding process results are expected to be announced in the last week of September, around September 29th.
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.
