{"id":30951,"date":"2022-06-27T10:47:56","date_gmt":"2022-06-27T14:47:56","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=30951"},"modified":"2022-06-27T14:05:07","modified_gmt":"2022-06-27T18:05:07","slug":"three-arrows-capital-receives-notice-of-default-from-voyager-digital","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/three-arrows-capital-receives-notice-of-default-from-voyager-digital\/","title":{"rendered":"Three Arrows Capital receives notice of default from Voyager Digital"},"content":{"rendered":"\n

Three Arrows Capital (3AC) has received a notice of default from Voyager Digital for failing to make payments on BTC and USDC loans.<\/p>\n\n\n\n

\"Three
Three Arrows Capital<\/figcaption><\/figure>\n\n\n\n

Hedge fund Three Arrows Capital<\/a> (3AC) has been issued a notice of default from cryptocurrency exchange Voyager Digital for failing to make payments on a loan for 350 million USD Coin (USDC) and 15,250 Bitcoin (BTC) that was previously revealed.<\/p>\n\n\n\n

The exchange stated that it is currently discussing “legal remedies” with its counsel and intends to pursue the recovery of its funds from 3AC in a market update by Voyager\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Voyager also revealed that as of June 24, 2022, the company has $137 million in cash and cryptocurrency. Additionally, the business reassured users that the platform will continue to run and process their orders and withdrawal requests.<\/p>\n\n\n\n

In addition to this, the business also hired Moelis & Company as its financial consultant to support its efforts to stabilize despite its exposure to 3AC. Stephen Ehrlich, chief executive officer of Voyager<\/a>, said that the team is presently trying to strengthen its balance sheets and exploring additional solutions to keep up with the liquidity requirements of its users.<\/p>\n\n\n\n

Voyager states that thanks to its loan deal with trading Alameda Research, it has access to the $500 million in money. The company reported that it now has access to $75 million in money from Alameda.<\/p>\n\n\n\n

Voyager gave 3AC deadlines last week for paying back its BTC and USDC loans<\/a>. The company asked for $25 million to be paid last Friday as well as the whole amount to be paid today. However, despite the time constraints, 3AC was unable to abide by them.<\/p>\n\n\n\n

The share price of Voyager fell by 60% on June 22 when cryptocurrency equities took a dive. The following day, Voyager apparently reduced their withdrawal amount due to current problems with 3AC to $10,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

Three Arrows Capital (3AC) has received a notice of default from Voyager Digital for failing to make payments on BTC and USDC loans. Hedge fund Three Arrows Capital (3AC) has been issued a notice of default from cryptocurrency exchange Voyager Digital for failing to make payments on a loan for 350 million USD Coin (USDC) […]<\/p>\n","protected":false},"author":38,"featured_media":30967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1708,8789],"class_list":["post-30951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-three-arrows-capital","tag-voyager"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/three-arrows-capital-3ac.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=30951"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/30967"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=30951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=30951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=30951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}