Voyager Announces Large Exposure To Three Arrows Capital
Voyager Digital lent over half of its loan book to Three Arrows Capital and announced major losses due to this exposure. The company’s stock took a massive hit. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Voyager’s Loan Book ExposureEarly on June 22, 2022, Voyager Digital, a crypto company which enabled users to deposit on their platform for yield, announced it took large losses from loans....
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Voyager files for Chapter 11 bankruptcy due to their large exposure to Three Arrows Capital as the contagion continues to spread across the market.
According to reports, the TSX-listed Voyager Digital is another company that has been negatively affected by financial issues tied to the crypto hedge fund Three Arrows Capital (3AC). In a letter to investors, Voyager’s management explained that 3AC potentially defaulted on a $655 million loan and it hopes to obtain some of the funds by the end of this month. The Three Arrows Contagion: 3AC Owes $655 Million to Voyager Digital — Management Has Set a Repayment Date 3AC’s financial hardships have seemingly started a contagion throughout the crypto industry and while a....
Voyager announced that Three Arrows Capital owes the firm 15,250 BTC and $350 million USDC. Trading platform Voyager Digital takes a loan from trading firm Alameda Research because of its exposure to crypto venture capital firm Three Arrows Capital (3AC). In a press release by Voyager Digital, the firm announced that it has borrowed 15,000 Bitcoin (BTC) from Alameda to cover the losses that came from its exposure to the 3AC contagion. Voyager also noted that the company might issue a notice of default to 3AC if they fail to pay its loans from Voyager. The firm revealed that 3AC owes the....
Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive action now.” Voyager’s Bankruptcy Filing Voyager Digital Ltd. (TSE: VOYG) announced Wednesday that it has filed for Chapter 11 bankruptcy. The announcement details: The company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S.....
Multiple news outlets have reported that Three Arrows Capital is under intense pressure to meet a Monday deadline and return more than $670 million in loans or face default. The likelihood of the crypto-focused hedge fund missing the deadline set by Voyager Digital for repaying a loan of 15,250 Bitcoin and $350 million in USDC […]