Crypto platform Voyager Digital announced it has issued a notice of default to the controversial Three Arrows Capital.
According to the press release, the notice is issued “for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC.”
Just two weeks back, Voyager Digital secured a line of credit from Alameda Research. The new announcement states that the default of 3AC does not cause a default in the agreement with Alameda.
Voyager Digital has appointed Moelis & Company as financial advisors to assist in this process. Currently, the platform has roughly US$137 million in cash and crypto assets on hand.
The platform is planning to pursue recovery from 3AC and is talking with the company’s advisors about the legal options necessary for the process.
Stephen Ehrlich, Chief Executive Officer of Voyager, stated “We are working diligently and expeditiously to strengthen our balance sheet and pursue options so we can continue to meet customer liquidity demands.”
