Key takeaways:
- Sam Bankman-Fried’s Alameda Analysis has lent Voyager digital 200 million USDC and 15k Bitcoin.
- The digital belongings are supposed to safeguard Voyager Digital’s prospects’ belongings throughout the present crypto market volatility.
- The time period sheet between Alameda Analysis and Voyager Digital gives a revolving time period of credit score services expiring December 2024 with an annual rate of interest of 5%.
The continuing crypto drawdown with Bitcoin dropping under the essential $20k help stage has devastatingly impacted crypto lending companies suppliers reminiscent of Celsius and crypto hedge funds reminiscent of Three Arrows Capital.
Alameda Analysis Loans Voyager Digital 200M USDC and 15k Bitcoin to Safeguard Buyer Belongings.
Consequently, the staff at Voyager Digital Restricted has announced that it has secured loans from Sam Bankman-Fried-led Alameda Analysis, to the tune of 200 million USDC and 15,000 Bitcoin (BTC).
Based on the staff at Voyager Digital, the staff has signed a non-binding time period sheet with Alameda Analysis ‘to safe a revolving line of credit score offering Voyager with entry to additional capital.’ The time period sheet was pursued because of the present risky crypto market situations.
Voyager’s Chief Govt Officer, Stephen Ehrlich, additional emphasised that the time period sheet would safeguard buyer belongings. He stated:
At the moment’s actions give Voyager extra flexibility to mitigate present market situations and strengthen our relationship with one of many trade leaders.
Safeguarding buyer belongings is at all times our high precedence, and ongoing, prudent danger administration in addition to a robust steadiness sheet are two ways in which we proceed to show that precedence.
Credit score Services Expire in December 2024 with an Annual Curiosity Price of 5%.
As well as, the time period sheet between Alameda Analysis and Voyager Digital ‘gives for revolving time period credit score services, every having a time period expiring December 31, 2024, and having an annual rate of interest of 5% payable on maturity.’
The primary credit score facility has an mixture principal quantity of $200 million USDC. The second revolving credit score facility is for 15,000 Bitcoin.
Voyager Has over $200 Million on its Steadiness Sheet.
The staff at Voyager Digital has additionally declared that the corporate already has an extra $200 million price of belongings on its steadiness sheet.
