Voyager Digital has lowered its daily withdrawal limit to $10,000 (from $25,000 ). The company previously said it could issue a “default notice” to hedge fund Three Arrows Capital (3AC) if the latter fails to repay the loan.
According to the press release, Voyager Digital has issued a loan to 3AC for 15,250 BTC (~$311 million at the time of writing) and 350 million USDC. On June 24, the company asked to close part of the debt in the amount of 25 million USDC, and then demanded to repay the entire loan in BTC and stablecoins by June 27.
This morning, we announced a definitive agreement with Alameda Ventures for a $200 million dollar cash / USDC revolver and a 15,000 BTC revolver.
Read today’s release: https://t.co/8wPfzcaI6K
— Voyager (@investvoyager) June 22, 2022
In May 2022, Sam Bankman-Fried's company became the lead investor in a $60 million Voyager Digital funding round. Last Sunday, the billionaire said that amid the crisis, the FTX exchange he leads should “intervene” and help other industry players.
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As a reminder, 3AC co-founder Kyle Davis said that the hedge fund is considering selling some assets to save itself.
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