Voyager Digital’s stock price plunged 60 percent after the announcement of the 3AC Arbitration Capital (3AC), accompanied by further decline in crypto industry stocks.
According to TradingView, Voyager Digital traded up% 60% during normal trading hours on Wednesday at $ 0.5998, down 50.84% for the day before closing.
Following a sharp decline, Voyager Digital Cassation (3AC), the capital of the three arrows, owes the company $ 15,250 Bitcoin (USDC) and a total of $ 660 million (USDC).
Voyager 3AC has until June 24 to pay $ 25 million and repay the loan in full by June 27 before the loan is deemed to have been rejected. The company is also working with lawyers on how to take legal action against 3 AC if the Venture Fund fails to pay its debts.
Alameda Research extends $ 200 million revolving loan and 15,000 BTC revolving loan to cover Voyeger’s current liquid crisis. The company this week raised its 24-hour withdrawal limit from $ 25,000 to $ 10,000.
Redditor AdLongjumping5010 commented on r / CelciusNetwork subtitle: “Over $ 10,000 per Celsius.”
Other cryptocurrencies continue to suffer. Coinbase stocks fell 9.71% to $ 51.91, while shares of the much-anticipated BTC-hit micro-strategy led by Michael Salor fell 4.50% to $ 170.91.
Coinbase is one of the stupid things I have seen in the public market for $ 14 billion.
By the end of 2008, it was competing for only 50% of Apple’s business.
I do not believe that boomer mispricing will prevent me from transferring money to a stock account.
– Ryan Celkis (@twobitidiot) June 22, 2022
Crypto Mining stocks also suffered significant losses, with Riot Blockchain declining 9.63% and BitFarms, Hat 8, Marathon Digital Holdings and Core Scientific falling 5-7 percent per share.
Related SBF and Alameda intervene to prevent cryptocurrency crash
Crypto stock prices fall sharply in stock and crypto markets by 2022: The benchmark S&P 500 Index is down in the bear market territory and up 21.6 percent since the beginning of the year. This is the first time this has happened since 1970, according to Bloomberg.
Related Binance US makes BTC trading free of charge because competitors feel the heat
Investors have spoken out against the US Federal Reserve’s monetary policy and this year’s interest rate hike in an effort to curb inflation.
The chairman of the federation, Jerome Paul, said the government has put the cards on the back of the recent inflation crisis, but suggested that it could be a catalyst for a collapse as the federation raises debt costs.
“This is certainly possible,” Paul told Sen. John Tester in response to a question from the Senate Banking Committee on Wednesday.