Alameda Research lends Voyager Digital 200M USDC and 15k Bitcoin to Safeguard Customer Assets During the Bear Market

Key takeaways:

• Sam Bankman-Fried’s Alameda Research has lent Voyager integer 200 cardinal USDC and 15k Bitcoin.
• The integer assets are meant to safeguard Voyager Digital’s customers’ assets during the existent crypto marketplace volatility.
• The word expanse betwixt Alameda Research and Voyager Digital provides a revolving word of recognition facilities expiring December 2024 with an yearly involvement complaint of 5%.

The ongoing crypto drawdown with Bitcoin dropping beneath the important $20k enactment level has devastatingly impacted crypto lending services providers specified arsenic Celsius and crypto hedge funds specified arsenic Three Arrows Capital.

Alameda Research Loans Voyager Digital 200M USDC and 15k Bitcoin to Safeguard Customer Assets.

Consequently, the squad astatine Voyager Digital Limited has announced that it has secured loans from Sam Bankman-Fried-led Alameda Research, to the tune of 200 cardinal USDC and 15,000 Bitcoin (BTC).

According to the squad astatine Voyager Digital, the squad has signed a non-binding word expanse with Alameda Research ‘to unafraid a revolving enactment of recognition providing Voyager with entree to further capital.’ The word expanse was pursued owed to the existent volatile crypto marketplace conditions.

Voyager’s Chief Executive Officer, Stephen Ehrlich, further emphasized that the word expanse would safeguard lawsuit assets. He said:

Today’s actions springiness Voyager much flexibility to mitigate existent marketplace conditions and fortify our narration with 1 of the manufacture leaders.

Safeguarding lawsuit assets is ever our apical priority, and ongoing, prudent hazard absorption arsenic good arsenic a beardown equilibrium expanse are 2 ways that we proceed to show that priority.

Credit Facilities Expire successful December 2024 with an Annual Interest Rate of 5%.

In addition, the word expanse betwixt Alameda Research and Voyager Digital ‘provides for revolving word recognition facilities, each having a word expiring December 31, 2024, and having an yearly involvement complaint of 5% payable connected maturity.’

The archetypal recognition installation has an aggregate main magnitude of $200 cardinal USDC. The 2nd revolving recognition installation is for 15,000 Bitcoin.

Voyager Has implicit $200 Million connected its Balance Sheet.

The squad astatine Voyager Digital has besides declared that the institution already has an further $200 cardinal worthy of assets connected its equilibrium sheet.