CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
  • Opinions
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
Home » Crypto News » Voyager Digital Secures a $500M Credit Facility Loan From Alameda Following 3AC Fiasco

Voyager Digital Secures a $500M Credit Facility Loan From Alameda Following 3AC Fiasco

Author: Jordan Lyanchev

Last Updated Jul 8, 2022 @ 08:16

Voyager Digital Holdings will receive a loan of over $200 million in cash and USDC and 15,000 BTC from Alameda.

Citing the need to meet customer liquidity requirements in these challenging times, the US-based crypto platform said it had secured the loan in the form of a credit facility just a day after FTX provided the same type of a loan to BlockFi.

  • The company’s statement informed of the size of the loan, which is for $200 million cash and USDC revolver, and a 15,000 BTC revolver. This makes the total amount around $500 million since the 15K BTC is valued at around $300 million as of now.
  • Voyager intends to use the fresh funds to “safeguard customer assets in light of current market volatility and only if such use is needed.” As of June 20, the firm had approximately $152 million in cash and owned crypto assets, as well as $20 million of cash restricted for the purchase of USDC.
  • The statement further explained that the loan comes due to Voyager’s exposure (350 million USDC and 15,250 BTC – over $650 million in total) to the struggling crypto-focused VC – Three Arrows Capital (3AC).
  • Voyager said it had requested repayment of $25 million in USDC by June 24 and the entire balance of USDC and BTC by June 27. However, “neither of these amounts has been repaid, and failure by 3AC to repay either requested amount by these specified dates will constitute an event of default.”

“Voyager intends to pursue recovery from 3AC and is in discussions with the company’s advisors regarding the legal remedies available. The company is unable to assess at this point the amount it will be able to recover from 3AC.”

  • This development comes just a day after BlockFi said it had secured a $250 million credit facility from the SBF-spearheaded FTX exchange.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

You Might Also Like:

  • Bitcoin_Network
    Bitcoin Mining Difficulty Hits Record High
  • Bitcoin_Fort_Worth
    Texas' Fort Worth Becomes the First US City that Mines Bitcoin
  • bitcoin_whale_cover
    Top Bitcoin Whales Bought the Dip, Adding Over 6,000 BTC in a Day
Tags: Bitcoin Voyager Digital
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$37,432.00
  • ethereum
    ETH$2,033.78
  • Join Our Community

    FacebookX YouTubeTelegram


    Editorials
    Could the Blockchain Disrupt Big Data in the E-commerce Industry?

    Could the Blockchain Disrupt Big Data in the E-commerce Industry?

    Binance’s New CEO Richard Teng: The Key Factors That Will Drive Mass Adoption in 2024 (Interview)

    Binance’s New CEO Richard Teng: The Key Factors That Will Drive Mass Adoption in 2024 (Interview)

    How Bitcoin Can Be a Lifeboat for People in Third World Countries: Interview with Ledn’s Mauricio Di Bartolomeo

    How Bitcoin Can Be a Lifeboat for People in Third World Countries: Interview with Ledn’s Mauricio Di Bartolomeo

    What 600 Startup Applications Tell About Blockchain & AI in 2024

    What 600 Startup Applications Tell About Blockchain & AI in 2024

    Bitcoin, Security, and the Future of Crypto: Interview with Jameson Lopp (Bitcoin Amsterdam 2023)

    Bitcoin, Security, and the Future of Crypto: Interview with Jameson Lopp (Bitcoin Amsterdam 2023)

    Zero-Knowledge (ZK) 101: Everything You Need to Know About ZK Proofs

    Zero-Knowledge (ZK) 101: Everything You Need to Know About ZK Proofs

    Potential Implication of SBF Verdict on Crypto Leaders

    Potential Implication of SBF Verdict on Crypto Leaders

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!