Three Arrows Capital (3AC), a well-known cryptocurrency hedge fund, reported a default of US$670 million in debt. Voyager, a digital asset brokerage company that was bankrupted, said it would recover the arrears and emphasized its commitment to maintaining platform operations.
Voyager Digital, a digital asset brokerage firm, said recently that it has lent 15,250 bitcoins and $350 million in USDC to Three Arrows Capital.At Monday's prices, the loan amounted to more than $675 million.Voyager Digital is asking Three Arrows to repay $25 million by June 24 and the entire outstanding loan by June 27.
On June 27, Voyager Digital issued a statement saying that neither payment had been repaid, adding that a notice of default could be issued if Three Arrows did not repay.Voyager Digital said it "intends to invite compensation from Three Arrows Capital" and is discussing "feasible legal remedies" with advisers.
As of June 24, Voyager said the company had about $137 million in its own crypto assets and said it had access to $200 million in cash and USDC revolving credits, as well as 15,000 bitcoin revolving credits from Alameda Ventures (valued at $3.18 One hundred million U.S. dollars).
Alameda, the quantitative trading firm owned by cryptocurrency exchange FTX founder Sam Bankman-Fried, last week pledged $500 million in financing to cryptocurrency broker Voyager Digital.Voyager has drawn down $75 million from the line of credit.
"Three Arrows' default will not result in a default of the agreement with Alameda," Voyager's statement said.
Blue Whale Finance previously reported that Three Arrows Capital was founded in 2012 by Su Zhu and Kyle Davies, and previously participated in the Luna project of Thunderbolt.Recently, Three Arrows Capital was accused by netizens claiming to be users of suspected misappropriation of client funds.On the 14th, Su Zhu deleted the social media account profile including Ethereum and other tokens, and posted a message on social media: "We are communicating with relevant parties and are fully committed to solving this problem." Su Zhu did not Be clear about the specific content of the "question" you are responding to.
Some crypto companies are already facing a liquidity crisis as the market continues to slump.Lending company Celsius this month suspended customer withdrawals, citing "extreme market conditions".Celsius has promised customers that they can get super high yields after depositing digital currency.
Another cryptocurrency lender, Babel Finance, said this month that the company was “facing unusual liquidity pressures” and had halted withdrawals.
(Editor in charge: Li Rong)
