Alameda Research is lending the cryptocurrency company $ 485 million in cryptocurrencies
In the context of numerous massive names acquiring “cash flow problems,” Voyager Digital announced that it has borrowed $ 485 million from Alameda Research. Ala...
In the context of numerous massive names acquiring “cash flow problems,” Voyager Digital announced that it has borrowed $ 485 million from Alameda Research.
On the afternoon of June 18, Voyager Digital, a cryptocurrency investment brokerage unit, mentioned it had reached an agreement to borrow cash from Alameda Research, a primary cryptocurrency investment fund with ties to the ‘exchange FTX.
Specifically, Alameda Research will loan Voyager Digital $ 200 million in money / USDC, along with 15,000 Bitcoin (BTC), for a complete worth of around $ 485 million at press time. The duration of the loan will be right up until 31 December 2024, with an curiosity of five% per annum.
To greater serve and defend our consumers in today’s marketplace ailments, we announced right now that we have signed a phrase sheet for a $ 200 million, 15,000 BTC revolving credit score line with marketplace leader, Alameda Research.
Read the press release: https://t.co/Pz1b3wpaj0
– Voyager (@investvoyager) June 17, 2022
Voyager Digital has unveiled that this cash will be employed to defend assets for consumers in the context of the ever-declining cryptocurrency marketplace in the previous. Voyager claims it nevertheless has much more than $ 200 million in assets.
As reported by Coinlive, the cryptocurrency marketplace has continually observed difficulties of numerous organizations working in the area of loans and investment money. From Celsius blocking consumer deposits and withdrawals and Three Arrows Capital continually liquidating when collateral runs out, the crisis has spread to Babel Finance, Finblox and DeFiance Capital.
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