Voyager, 3AC, BTC, USDC u zajmu; default- Sve neočekivano

Many cryptocurrency-based firms have faced the wrath of a crypto meltdown that saw LUNA drop to zero. Interestingly,  Kapital tri strijele (3AC), the beleaguered cryptocurrency firm tops the chart. In a WSJ izvještaj, the crypto hedge fund confirmed that it had suffered heavy losses in the recent market downturn.

Osim toga, de-pegging of stETH od Ethereumov [ETH] price, in the secondary market, also exposed the hedge fund to multiple margin calls. For which it did not have sufficient funding. This is the main reason why different crypto lenders are pursuing recovery measures against 3AC.

Sretan put

Consequently, the United States-based crypto brokerage Digital Voyager, in a 27 June press release, issued a notice of default to 3AC. The latter failed to make the required payments on its previously disclosed loan of 15,250 BTC i 350 milion dolara USDC. Hence, Voyager intends to pursue recovery from the accused.

Voyager Digital LLC has issued a notice of default to Three Arrows Capital for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC. Voyager intends to pursue recovery from 3AC.https://t.co/3Zu4mtdijM https://t.co/L8XOJL26ua

- Wu Blockchain (@WuBlockchain) Juni 27, 2022

This notice comes within a week of the previous notice. Voyager Digital came out with a statement that the company had exposure worth some $500 million to Three Arrows Capital. It had requested repayment of $25 million in USDC by 24 June and the entire balance of USDC and BTC by 27 June.

However, neither of these amounts were repaid. And, the ‘failure by 3AC to repay either requested amount by these specified dates will constitute an event of default.’

In this regard, Stephen Ehrlich, the Chief Executive Officer of Voyager, opini,

“Radimo marljivo i ekspeditivno na jačanju našeg bilansa stanja i traženju opcija kako bismo mogli nastaviti ispunjavati zahtjeve kupaca za likvidnošću.”

Nonetheless, given the hiccup, the firm continues to make use of the Alameda facilities to facilitate customer orders and withdrawals. As of 24 Lipanj, putnik had approximately $ 137 miliona cash and owned crypto assets in hand. Moreover, the company had access to the previously objavio $ 200 miliona cash, USDC revolver and a 15,000 BTC revolver from Alameda Ventures Ltd.

Drži se podalje

Notably, Voyager is likely to be the first of many firms in pursuing recovery measures against 3AC. Other crypto lenders, including blok fi had liquidated their exposure to the firm after it failed to meet the margin call. Moreover, 3AC was held accountable for misappropriating customer funds to meet some of its margin calls. Now, over the course of the near future, the market can see more legal actions related to 3AC.