Источник Bitcoin.com
Заголовок Three Arrows Capital Allegedly Owes Voyager Digital $655M — Crypto Firm Is 'Unable to Assess' if It Can Recover the Funds
Дата 20220623

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Three Arrows Capital Allegedly Owes Voyager Digital $655M — Crypto Firm Is
'Unable to Assess' if It Can Recover the Funds

Three Arrows Capital Allegedly Owes Voyager Digital $655M — Crypto Firm Is
'Unable to Assess' if It Can Recover the Funds

According to reports, the TSX-listed Voyager Digital is another company that
has been negatively affected by financial issues tied to the crypto hedge fund
Three Arrows Capital (3AC). In a letter to investors, Voyager’s
management explained that 3AC potentially defaulted on a $655 million loan and
it hopes to obtain some of the funds by the end of this month.

The Three Arrows Contagion: 3AC Owes $655 Million to Voyager Digital
Management Has Set a Repayment Date

3AC’s financial hardships have seemingly started a contagion throughout
the crypto industry and while a number of firms said they were safe, others
explained they were suffering from the fallout. For instance, a company backed
by 3AC called Finblox detailed on June 16 that it had to pause rewards (up to
90% APY) for all of its users, and the platform upped withdrawal limits as
well. This week, the publicly listed crypto company Voyager Digital revealed
it was dealing with issues tied to 3AC.

In a letter sent to Voyager’s investors on Wednesday, the company
disclosed it was owed $655 million and 3AC was supposed to pay the funds back
in bitcoin ( BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ) and the stablecoin usd coin (USDC). Voyager is owed 15,250
BTC and 350 million USDC, according to the company. Management said it
originally asked for $25 million worth of USDC to be paid by June 24, but now
it wants the entire balance of USDC and BTC by June 27.

TSX-Listed Stock VOYG-T Loses Half of Its Value in a DayVoyager Is
‘Unable to Assess at This Point the Amount It Will Be Able to
Recover’

The news seemingly did not sit so well with Voyager investors as the
company’s shares dropped 53% in value during a 24-hour period.
Presently, the TSX-listed stock VOYG-T is down 52% and trading for $0.76 per
unit. On June 21, VOYG-T exchanged hands for $1.60 per share and in March
2021, VOYG-T saw an all-time high (ATH) at $32.68 per share. VOYG-T is
currently more than 97% lower than the ATH and the stock has been sliding
lower ever since crypto markets have dropped in value. The 3AC loan default
announcement added another blow to the value of the company’s shares.

The letter that discusses the initial USDC payment request, and then the
request for the entire balance, says that Voyager does not know if it will be
repaid. “Neither of these amounts has been repaid, and failure by
[Three Arrows] to repay either requested amount by these specified dates will
constitute an event of default,” Voyager said. “[The company is]
unable to assess at this point the amount it will be able to recover.”
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin.com News recently reported on Three Arrows Capital and explained how
the company’s founders have been silent about the situation.

3AC co-founder Kyle Davies did disclose to the Wall Street Journal• Средства массовой информации » Средства массовой информации США » Газеты США » The Wall Street Journal (WSJ) that
the Terra LUNA and UST fallout hurt the company and plans were being made to
find an “equitable solutionfor all of 3AC’s
constituents. Furthermore, 3AC allegedly tried to pitch a GBTC arbitrage trade
to a lot of big name investors a few days before the company’s rumored
collapse. Besides Finblox, Voyager, and 3AC, Mike Novogratz’s Galaxy
Digital has seen its shares plummet significantly since the Terra LUNA and UST
fallout. Galaxy’s shares are down close to 90% from the share’s
price highs in mid-November.

Novogratz was also silent for a bit following the Terra fiasco but then
published a public apology about the matter but said Galaxy did not suffer
much from the Terra collapse. This is because Novogratz said that Galaxy stuck
to a core tenet of investing which includes only investing in what you are
comfortable losing. Since the letter, Novogratz has been a bit more active on
social media while many others who promoted or invested in Terra have remained
silent or dissociated themselves from the blockchain project.

============= Итог: 2,6660 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin 1,3281 ; Средства массовой информации#Средства массовой информации США#Газеты США #The Wall Street Journal

============= Объекты: сми The Wall Street Journal


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