7/7/2022 0 Comments For A $377M Loan, Sam Bankman-Fried's Alameda Research Is About To Destroy Voyager.According to Voyager Digital's Chapter 11 bankruptcy filing, Alameda Research, the company formed by crypto millionaire Sam Bankman-Fried that last month issued a $500 million line of credit to the cryptocurrency broker, owes the company $377 million.
Since Voyager revealed that the hedge fund Three Arrows Capital owes it more than $600 million, a bankruptcy has seemed inevitable. Alameda Research owes Voyager $377 million at an interest rate of 1 percent to 5 percent, according to a chart on page 13 of the bankruptcy filing, which was presented in a New York district court today. On page 119 of the petition is a list of Voyager's greatest unsecured claims, which includes a $75 million unsecured loan. Alameda’s debt makes it Voyager’s second largest borrower after the insolvent Three Arrows Capital, which also goes by 3AC. When the extent of 3AC’s trouble became clear, largely because of $200 million it lost in the Terra collapse in May, its lenders began to realize that huge 3AC loans on their books were about to go into default. Once 3AC was no longer able to make payments, Voyager issued a default notice last Monday. Then, on Wednesday last week, a British Virgin Islands court ordered 3AC to liquidate. That means 3AC must cease all operations and allow the court to oversee the selling of its assets to offset what it owes creditors, including Voyager Digital.
0 Comments
Leave a Reply. |
BtcTap StaffWe will work around the clock to provide Crypto news. BtcTapClick on the dropdown button to translate. Translate this page: You can translate the content of this page by selecting a language in the select box. Archives
October 2022
CategoriesAll Altcoins Bakkt’s Exchange Bangladesh Crypto Currency News Bitcoin News Bitcoin Wallet Crypto Bills Crypto Currencies And Rappers Crypto Currency Exchange Crypto Currency News Crypto Currency Politics Crypto Price Prediction Crypto Roundups Crypto Staking Crypto Taxes Elon Musk Ethereum Federal Reserve Ira Platform Make Money MeMe Crypto Metaverse Mining’s Rig NFT Nigeria Crypto Currency News Our 1st Round Picks For 2022 PayPal Prophet Muhammad Crypto Currency Reddit News Robinhood Short Articles Stablecoin Staff Picks Vietnam Crypto Currency News |