Voyager Digital Limited has issued a default notice to Three Arrows Capital (3AC) for failure to pay its loan obligations.
បើយោងទៅតាម សេចក្តីប្រកាសព័ត៌មាន, Voyager is owed 15,250 Bitcoin (approximately $325 million at the current price) and $350 million USDC. The firm said it would pursue legal action to recover the funds.
“Voyager intends to pursue recovery from 3AC and is in discussions with the Company’s advisors as to legal remedies available.”
Seeking help from Alameda Research
នៅថ្ងៃទីខែមិថុនា 22, អ្នកធ្វើដំណើរ implemented a $10,000 user withdrawal limit in response to the unfolding crypto deleveraging event.
នេះបើយោងតាមរបស់ខ្លួន គេហទំព័រ, Voyager had agreed to a bailout deal with Alameda to help meet customer liquidity demands during “this dynamic period.” The bailout enabled Voyager to access $200 million in cash and revolving loans of 15,000 BTC and an undisclosed USDC amount.
“Voyager Digital Holdings, Inc. (“VDH”), has entered into a definitive agreement with Alameda Ventures Ltd. (“Alameda”) related to the previously disclosed credit facility, which is intended to help Voyager meet customer liquidity needs during this dynamic period.”
Alameda imposed several conditions on the bailout, such as the firm securing additional funding within 12 months. But chief among them was a $75 million drawdown limit over any 30-day rolling period.
The post also mentioned the company had asked 3AC for a $25 million USDC repayment by June 24 and the outstanding balance to be paid by June 27.
"ទាំងចំនួនទឹកប្រាក់ទាំងនេះមិនត្រូវបានសងវិញទេ ហើយការបរាជ័យដោយ 3AC ក្នុងការទូទាត់សងចំនួនដែលបានស្នើរសុំដោយកាលបរិច្ឆេទដែលបានបញ្ជាក់ទាំងនេះនឹងបង្កើតជាព្រឹត្តិការណ៍មិនប្រក្រតី។"
Will Voyager follow through?
អ្នកធ្វើដំណើរ stated that it continues to fulfill customer orders and withdrawals, so far using $75 million of the Alameda credit line made available to them.
នាយកប្រតិបត្តិ Voyager លោក Stephen Ehrlich further added that the company is working to strengthen its balance sheet and continues to pursue other options to meet liquidity demands.
"យើងកំពុងធ្វើការយ៉ាងឧស្សាហ៍ព្យាយាម និងឆាប់រហ័ស ដើម្បីពង្រឹងតារាងតុល្យការរបស់យើង និងស្វែងរកជម្រើស ដូច្នេះយើងអាចបន្តបំពេញតម្រូវការសាច់ប្រាក់ងាយស្រួលរបស់អតិថិជន"។
In a recent tweet, 8Blocks Capital CEO Danny Yuan made similar claims, saying 3AC had ghosted him.
14) Losing a bet is one thing, but at least be honorable and not drag others into your bets who have nothing to do with it. Certainly don’t ghost on everyone since potentially, they could’ve helped you.
— Danny (@Danny8BC) ខែមិថុនា 16, 2022
More to follow as the story unfolds.
Source: https://cryptoslate.com/voyager-issues-notice-of-default-to-3ac-over-675m-loan-obligations-legal-action-next/