Alameda Research Investment Fund, which is linked to FTX, has announced that it will repay up to $ 200 million in debt to Voyager this September.
As reported by Coinlive in early July 2022, Voyager Digital is a US-based mostly cryptocurrency loan provider that had to file for bankruptcy in the course of the May-August liquidity crisis.
This corporation, just after exhibiting indicators of difficulty, had to borrow $ 200 million in income / USDC and 15,000 Bitcoin (BTC) from Alameda Research – with a complete loan worth of up to $ 485 million at the time of lending. Even so, that quantity was nevertheless not sufficient to resolve the circumstance when Voyager later on had to file for bankruptcy beneath stress to withdraw income from customers and acquired concerned with Three Arrows Capital.
Ironically, in the bankruptcy document, Voyager exposed that Alameda Research is the unit that owes it up to $ 377 million, the 2nd biggest debtor just after Three Arrows Capital, the investment fund that went bankrupt a number of days in the past. Therefore, Alameda Research is each a creditor, a debtor and also a shareholder of Voyager itself.
In response to the public outcry, the fund representative tweeted that Alameda was prepared to repay Voyager and withdraw the mortgage loan. The organization linked to Alameda Research, the FTX exchange (each co-founders are billionaires Sam Bankman-Fried) created delivers to get Voyager, but they have been turned down.
In the newest advancement, on the morning of September twenty, Alameda Research filed a court petition announcing its willingness to repay all of its excellent debts to Voyager by September. Specifically, the fund will surrender to Voyager in exchange for a complete really worth around $ 200 million (at time of update), which includes:
- six,500 BTC (with 53.four BTC of curiosity)
- 50,000 ETH (with curiosity 1204.four ETH),
- one,972,600137 VGX
- 319.558082 LTC
- three,550,684247 CONNECTION
- one,301,917.81 DUKE
- 45.912.32644 SAND
- seven.939,726301 LUNCH And
- 493.150.6842 USDC.
– db (@ tier10k) September 20, 2022
In return, Voyager will pay out Alameda a mortgage loan of four.65 million FTT and 63.75 million SRM, really worth around $ 160 million.
Alameda Research’s request will will need to be authorized by the Voyager bankruptcy court in advance of it can be enforced, which is anticipated by September 30th.
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