Following the 3AC fiasco, Voyager Digital secures a $500 million credit facility loan from Alameda


Alameda will provide Voyager Digital Holdings with more than $200 million in cash, USDC, and 15,000 BTC.

The US-based cryptocurrency platform claimed it had received the financing in the form of a credit facility just one day after FTX gave BlockFi the same loan, citing the necessity to meet consumer liquidity requirements in these difficult circumstances.

According to the company’s statement, the loan has a $200 million cash component and includes a USDC and 15,000 BTC revolver. Given that the 15K BTC is valued at roughly $300 million, this brings the total to around $500 million.

Given the present market volatility and only if necessary, Voyager plans to use the additional money to “safeguard customer investments.” In addition, the company owned crypto assets, had $152 million in cash as of June 20, and had $20 million set aside specifically for the acquisition of USDC.

The loan is a result of Voyager’s exposure to Three Arrows Capital (3AC), a struggling venture capital firm specializing in cryptocurrencies, which totals $650 million (350 million USDC and 15,250 BTC).

By June 24 and June 27, respectively, Voyager claimed it needed to receive repayment of $25 million in USDC and the remaining USDC and BTC.

However, neither of these sums has been paid back, and 3AC will be in default if it doesn’t pay back either demanded sum by the deadlines given.

This development occurred just one day after BlockFi announced that it had obtained a $250 million credit facility from the FTX exchange, which SBF spearheads.


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