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More companies collapsing due to lending money to buy Bitcoin on leverage and the borrowers defaulting after the recent crash. Voyager Digital has 15,250 BTC and 350 million in USDC still owed by the now defunct Three Arrows Capital.

More companies collapsing due to lending money to buy Bitcoin on leverage and the borrowers defaulting after the recent crash. Voyager Digital has 15,250 BTC and 350 million in USDC still owed by the now defunct Three Arrows Capital.

Bitcoin Reddit

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Voyager concurrently announced that its operating subsidiary, Voyager Digital, LLC, may issue a notice of default to Three Arrows Capital ("3AC") for failure to repay its loan. Voyager's exposure to 3AC consists of 15,250 BTC and $350 million USDC. The Company made an initial request for a repayment of $25 million USDC by June 24, 2022, and subsequently requested repayment of the entire balance of USDC and BTC by June 27, 2022. Neither of these amounts has been repaid, and failure by 3AC to repay either requested amount by these specified dates will constitute an event of default. Voyager intends to pursue recovery from 3AC and is in discussions with the Company's advisors regarding the legal remedies available. The Company is unable to assess at this point the amount it will be able to recover from 3AC

https://www.prnewswire.com/news-releases/voyager-digital-provides-market-update-301572971.html


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