Apparently, Voyager Digital is out of the woods. The three-arch capital did not pay off its huge debt, and the company ran out of liquid. Welcome to another episode of Crypto Death’s fall in Tera / Luna. Who came to the rescue? Sam Bankman-Freed is another company in Alameda Ventures. Is this person waiting for Crypto or is he taking full control of the industry?
as if Recent Press Release, Voyager Digital “has announced that it has entered into a firm agreement with Alameda Ventures Limited in connection with the aforementioned loan, which is intended to meet the liquid needs of customers during this volatile period.” That’s one way of saving. The company said, “US $ 200 million cash and USDC revolver and 15,000 BTC revolver.”
This morning, we announced a valid deal with Alameda Ventures for a $ 200 million USDC transfer and a $ 15,000 BTC transfer.
Read today’s edition of https://t.co/8wPfzcaI6K
– Voyager (@investvoyager) June 22, 2022
As a reminder, that FTX, which happened yesterday, is also owned by. Bankman-Fried, BlockFi at 250m. At the time, we described the situation as follows.
“In the last few weeks, the crypto market has been declining. It made him even more confused.
Voger’s case fits perfectly with this statement.
Sam Bankman-Fried loan to Voyager, conditions
The news was already flying. On June 16, analyst Dylan Leckeler took to Twitter to say: Someone said “opposition party for 3AC” and if so how much vogue did she take? ” He must think. The answer came faster than anyone could have imagined.
Estimates are here, but Voger is a quarterly ሚ 320m quarterly report. Dollar loan lends to Singapore-based “Opposition Party B”
– DylanLeClair @ (@DylanLeClair_) June 16, 2022
Vogerger explained the loan in a press release:
“As mentioned earlier, the loan is intended to be used to protect the client’s assets in the face of current market fluctuations and only if such use is required. And owns crypto assets and has around $ 20 million limited to USDC purchases.
The loan comes with “certain conditions”.
- “No more than $ 75 million could be dropped in any 30-day period.”
- “Approximately 25 percent of the company’s corporate assets should be limited to’s platform, which is less than US $ 500 million.”
- “Additional sources of funding must be attached within 12 months.”
Voyager Digital price chart on OTC | Source: TradingView.com
Now it’s all about the capital of the three arrows.
The press release confirms the rumor, it was the Singapore-based “opposition party” 3AC. Voyager, a simultaneous Vogue digital LLC, has announced that it may issue a default notice for three arrows Capital (“3AC”) due to non-payment. In a recent article, our sister site Bitcoinist breaks hedge fund situation:
“The Crypto Fund was exposed to more than $ 200 million and was directly at the center of the Luna disaster, estimated at $ 450 million. At first it looked like the company was recovering from the Luna collapse, but it soon became clear that 3AC investors were in more danger than expected.
Vogue’s situation is even clearer. The company’s “exposure to 3AC includes 15,250 BTC and $ 350 million USDC.” Therefore, Alameda’s loan covers most of it. But what did they have to do in return? Normally, “Alameda currently indirectly owns 22,681,260 shares of Voyager shares, representing 11.56% of the total common and volatile shares. If all goes well, Voyager has nothing to worry about. But, if not?
Voyeger 3AC has increased its customer base by 650 million, leaving only $ 150 million in cash.
Who controls the hazard there, Merrill Lynch?
– Tyler (@ApeDurden) June 22, 2022
Anyway, at least I didn’t go down without explaining myself first.
“On June 24, 2022, the company applied for a $ 25 million payment and then requested that the USDC and BTC balance be returned by June 27, 202. None of these amounts were returned and failed by 3AC. Voyager intends to monitor recovery from 3AC and is in talks with the company’s consultants about available legal solutions.
Answers and Conclusions
The crypto industry is generally in jeopardy. And there is a question in the middle, is Sam Bankman-Freed controlling the violence or is he taking full control of the industry?
Featured Image by Sebastian Herrmann on Unsplash | Charts by TradingView