Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure – Bitcoin News
— Redman, Alameda, Secures, Exposure, Credit, 3ac, Funds, Ventures, Voyager, Digital, Firm, Crypto, Million, Cope, Company, Line — 1 min read
Crypto firm Voyager Digital has secured a $500M line of credit from Alameda Ventures. Voyager Digital announced last week that it was owed $655M worth of digital assets by Three Arrows Capital (3AC) Voyager said in a note to investors that it is owed 15,250 BTC and 350 million USDC, and the company gave 3AC a deadline to pay back the funds. Voyager’s TSX-listed stock plummeted after the announcement losing more than 50% in value in less than 24 hours. Alameda indirectly holds 22,681,260 common shares of Voyager, equating to 11.56% of outstanding common and variable voting shares. Meanwhile, the news follows the crypto lender Blockfi securing a $250 million loan from FTX. Source