Crypto Broker Voyager Digital Files For Chapter 11 Bankruptcy
— Could go, Billion, Supposed, July 1, Gbtc, 75 million, Exclusive interview, Stay afloat, Southern district, Arbitrage — 1 min read
Crypto broker Voyager Digital Ltd. has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court of the Southern District of New York. The Toronto-based firm estimates more than 100,000 creditors. Voyager issued a notice of default to beleaguered Singapore-based crypto hedge fund Three Arrows Capital (3AC), which had borrowed $675 million from Voyager in the form of 15,250 bitcoin and $350 million in stablecoin USDC. 3AC’s troubles came amid a weeks-long selloff in the digital assets market, exacerbated by the $60 billion collapse of algorithmic stablecoin TerraUSD (UST) and its sister cryptocurrency Luna last month. Goldman Sachs is looking to raise $2 billion from investors to buy up distressed assets from Hoboken Source