Ruined by the crypto crash last June, Voyager had filed for bankruptcy with the New York court. In order to help this crypto broker turn the corner, Alameda Research will repay $200 million it took out from Voyager as a loan. A cryptocurrency loan dating back to September 2021, up to $380 million.
A sizable loan in crypto
In the folder deposited on the terms of the loan, payment will be made exclusively in cryptocurrency. An amount divided into 6,553 bitcoins and 51,204 ethers. Those numbers are worth $128 million and $70 million, respectively. Seven other tokens less substantial in sum complete the 200 million dollars.
In turn, Voyager will have to return collateral in the form of a token of 4.65 million FTX tokens (FTT) and 63.75 million Sera (SRM). Which is $160 million. A refund to be made before September 30, 2022! Remember that this crypto broker has started auctioning its assets since the beginning of this month. The goal: to be able to reimburse its customers.
Liquidation Voyager: Possible buyback offer?
Despite the private status of the bidders to Voyager’s auction offer, FTX and Alameda had made public a cash offer to Voyager’s creditors. Knowing that Alameda already had the status of largest shareholder of Voyager (11.56%), rumors quickly arose. They would affirm the potential purchase of Voyager by Sam Bankman-Fried, CEO of Alameda Research and FTX. A rumor very quickly refuted by Voyager, qualifying these statements as “misleading or downright false”.
Thanks to this loan, Voyager will be able to recover from the fall in the global cryptocurrency market in early summer 2022. A fall that led to its bankruptcy. Voyager has every interest in getting back into the running, at the risk of actually being bought by Alameda-FTX.
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