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- Voyager Digital recently filed bankruptcy on June 6, 2022.
- One of the greatest debtors of the company is ready to return its loans.
- The Toronto Stock Exchange suspends Voyager Digital’s stock.
Alameda Research’s Return
As we know, one of the largest crypto market crashes recently led to Voyager Digital’s collapse. This resulted in the company declaring bankruptcy. But there is no need to worry, as one of the largest debtors of the cryptocurrency brokerage firm is here to rescue.
Alameda Research, co-founded by the crypto billionaire Sam Bankman-Fried is finally ready to return the previous loan so that Voyager Digital can collect their collateral. The company also said that returning the loan to Voyager Digital is their pleasure as they will get out of the collateral through this returning of loans.
According to the bankruptcy filing by Voyager Digital, Alameda Research was its second-largest debtor. They owe Voyager Digital a whopping $377 million. This loan also includes an unsecured loan worth $75 million.
This is the data given by Colin Wu.
The bad news is that the shares of Voyager Digital were suspended immediately on July 6 by the Toronto Stock Exchange.
What about The Case With 3AC?
As you might have known, Three Arrows Capital (3AC) is one of the most prominent hedge funds. Recently, 3AC and Voyager Digital were in the middle of many legal battles. This is because 3AC missed a payment on a loan, which was worth 670 Million Dollars!
This loan includes 15,210 BTC along with $350 Million USDC.
In late June, Voyager Digital also gave final notice to 3AC for defaulting on the loans claiming that if the amount isn’t returned, Voyager will pursue asset recovery by all legal means. But still, after not getting their money, the firm filed for bankruptcy protection for around $1 billion in unsecured loans to Three Arrows Capital, 3AC. This was done on July 6.
This created heavy pressure on the crypto market, which was already undergoing a bear market. An important thing to note is that Alameda Research is one of Voyager’s largest shareholders, with a more than 9% stake in the company. So, it’s more than just a major debtor for the investment firm.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
