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 clients’ belongings in the course of the present crypto market volatility.
- The time period sheet between Alameda Analysis and Voyager Digital gives a revolving time period of credit score amenities expiring December 2024 with an annual rate of interest of 5%.
The continuing crypto drawdown with Bitcoin dropping under the essential $20k assist degree has devastatingly impacted crypto lending providers suppliers corresponding to Celsius and crypto hedge funds corresponding to Three Arrows Capital.
Alameda Analysis Loans Voyager Digital 200M USDC and 15k Bitcoin to Safeguard Buyer Belongings.
Consequently, the group 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).
In response to the group at Voyager Digital, the group 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 unstable crypto market situations.
Voyager’s Chief Govt Officer, Stephen Ehrlich, additional emphasised that the time period sheet would safeguard buyer belongings. He mentioned:
In the present day’s actions give Voyager extra flexibility to mitigate present market situations and strengthen our relationship with one of many business leaders.
Safeguarding buyer belongings is all the time our high precedence, and ongoing, prudent danger administration in addition to a robust stability sheet are two ways in which we proceed to display that precedence.
Credit score Services Expire in December 2024 with an Annual Curiosity Charge of 5%.
As well as, the time period sheet between Alameda Analysis and Voyager Digital ‘gives for revolving time period credit score amenities, 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 group at Voyager Digital has additionally declared that the corporate already has an extra $200 million price of belongings on its stability sheet.
