Voyager Digital has issued a default notice to Three Arrows Capital.
AI Summary1 min read
TL;DR
Voyager Digital has issued a default notice to Three Arrows Capital for failing to repay loans, including 15,250 bitcoins and 350 million USDC. The platform continues normal operations and has financial resources, including cash and credit lines, to manage the situation.
Tags
Halving TokensLayer 1Voyager DigitalThree Arrows Capitaldefault noticecryptocurrency loansfinancial recovery
According to Mars Finance, cryptocurrency platform Voyager Digital announced that its subsidiary, Voyager Digital LLC, has issued a default notice to Three Arrows Capital (3AC) due to 3AC's failure to repay previously disclosed loans, including 15,250 bitcoins and 350 million USDC. Voyager is consulting with legal counsel to discuss recovery strategies. Despite 3AC's default, Voyager stated that the platform is still processing customer transactions and withdrawals normally. As of June 24, the company held approximately $137 million in cash and its own cryptocurrency assets, and had access to a $200 million cash and USDC credit line and a 15,000 bitcoin credit line provided by Alameda Ventures, of which $75 million has already been utilized.