Bankrupt crypto broker Voyager will receive nearly $200,000,000 in Bitcoin and Ethereum from Alameda Research
Troubled crypto lender Voyager Digital is set to receive hundreds of millions of dollars worth of crypto assets from Alameda Research.
According to a recent lawsuit, FTX CEO Sam Bankman-Fried’s crypto trading firm will return a loan worth nearly $200 million to Voyager, a crypto brokerage that went bankrupt earlier this year.
The court documents reveal that Alemeda will repay Voyager 6,553 Bitcoin (BTC) and 51,204 Ethereum (ETH), worth nearly $124.5 million and $68.7 million respectively at the time of writing.
“The parties have agreed that the Borrower shall repay all outstanding amounts under the Specified Loans, with regard to all previous repayments and refinancing thereof, in accordance with the terms of the Credit Agreement and this disbursement letter.”
After receiving the payment, Voyager will return to Alameda the 4,650,000 FTX Token (FTT) and 63,750,000 Serum (SRM) held as collateral for the loan. The repayment of the loan is due on September 30, according to the court documents.
Voyager first filed for bankruptcy two months ago after crypto firm Three Arrows Capital (3AC), a prominent borrower, failed to repay a substantial loan worth over $650 million, prompting the digital asset lender to halt all customer deposits, withdrawals and acts.
Bankman-Fried originally proposed a Voyager bailout in July, which many in the crypto community said would further hurt Voyager customers.
The CEO responded by saying:
“We made an offer: if it was accepted, any customer who wanted could come and get back their share of whatever was left as soon as possible.
It would allow customers – if they wanted – to get their remaining assets back straight away, with no fees or extra haircuts.”
Voyager’s native asset, VGX, is changing hands at $0.654 at the time of writing, a gain of 4% on the day.
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Featured image: Shutterstock/Shiao Risu
