Crypto Broker Voyager’s Stock Craters 60% After Disclosure It’s Unlikely to Get $660 Million Back From Wobbling Hedge Fund Three Arrows Capital

7 days ago
KingData News: Crypto broker Voyager Digital disclosed on Wednesday that it may issue a notice of default to crypto hedge fund Three Arrows Capital (3AC) if it doesn’t repay its loan. Afterward, Voyager shares fell over 60% to a new 52-week low. Its exposure to 3AC consists of 15,250 Bitcoin, or around $315 million at publish time, as well as $350 million USD Coin (USDC), according to a company press release. Voyager requested repayment of $25 million USDC by June 24, and repayment of the entire balance of USDC and BTC by June 27, but has so far been unable to assess the amount it’ll be able to recover from 3AC. (Fortune)
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