Ailing Crypto Trading Firm Three Arrows Capital Defaults On $675 Million Loan To Voyager Digital

Toronto-based digital asset brokerage Voyager Digital issued a notice of default this morning to Three Arrow Capital (3AC) after the ailing hedge fund failed to meet its loan deadline this morning. The brokerage’s exposure to 3AC consists of $350 million and 15,250 BTC, now totaling $675 million due to Bitcoin BTC reaching $21,215. Voyager still holds $137 million in cash and assets, according to a company statement. The company's stock opened at $0.71 this morning, down 60% since they first announced they may issue a potential default to the Singapore-based hedge fund last week. The firm's VO price fell 60% last week after they first. week after the initial 3AC potential default. Source