Voyager Digital sent 3AC default notice

Cryptocurrency broker Voyager Digital sent hedge fund Three Arrows Capital (3AC) a notice of defaultdue to loan default. This is stated in the press release.

The broker issued a loan to 3AC for 15,250 BTC (more than $323.4million 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 that the entire loan be repaid in BTC and stablecoins by June 27.

"Voyager intends to recover damages from 3AC and is discussing available remedies with advisors," the platform said.

According to the report, Voyager continues to work. As of June 24, 2022, the broker holds about $137 million in fiat currency and digital assets.

June 22 Voyager Digital agreed with AlamedaResearch by Sam Bankman-Fried on a 200 million USDC loan and a 15,000 BTC revolving line of credit. The firm stressed that they still have access to these funds.

“We are working diligently and expeditiously to strengthenour balance sheet and looking for options to continue meeting our clients' liquidity needs,” said Voyager CEO Steven Ehrlich.

In May 2022, Alameda Research becamethe lead investor in a $60 million Voyager Digital funding round. In June, Bankman-Fried said that amid the crisis, FTX, which he leads, should "intervene" and help other industry players.