Voyager Digital Proceeds with Default Notice Against Three Arrows Capital

US-based cryptocurrency platform, Voyager Digital, issued a notice of default to Three Arrows Capital (3AC) as the latter has failed to make the required payments on previously disclosed loans.

As CryptoPotato reported back on June 22nd, Voyager Digital came out with a statement that the company had exposure worth some $500 million to Three Arrows Capital – a cryptocurrency hedge fund that’s now supposedly insolvent.
Voyager also revealed that it intends to pursue recovery from 3AC but that it’s also “unable to assess at this point the amount it will be able to recover.”
Today, according to a press release, Voyager Digital LLC – a subsidiary of Voyager Digital LTD – announced that it has issued a notice of default to 3AC “for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC.”
It’s worth noting that the company also received a $500 million credit facility from Alameda Ventures and has already accessed $75 million of the line of credit. In addition, “it may continue to make use of the Alameda to facilitate customer orders and withdrawals, as needed.”
The release also informed that a default of 3AC won’t cause a default in the agreement with Alameda.
Speaking on the matter was Stephen Ehrlich, Chief Executive Officer of Voyager, who said:

We are working diligently and expeditiously to strengthen our balance sheet and pursuing options so we can continue to meet customer liquidity demands.

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