Voyager Digital Secures Loans From Alameda to Safeguard Its Assets Amid Crypto Crash


The advance will have $200 million money/USDC-supported credit office and 15,000 BTC.

Crypto specialist Voyager Digital (VOYG) marked a non-restricting term sheet with quant exchanging shop Alameda Research to get a rotating credit extension to shield its clients’ resources from momentum bear economic situations.

The loan will be in two parts. The first is a cash/USDC-based credit facility with an aggregate principal amount of $200 million. The second revolving credit facility is for 15,000 BTC. Voyager will only use the credit facilities if needed to safeguard customer assets, the broker said in a statement on Friday.

Voyager Digital Secures Loans From Alameda to Safeguard Its Assets Amid Crypto Crash
Via Yahoo.

The credit offices will lapse on Dec. 31, 2024, and will have a yearly loan cost of 5% payable on development.

“The present activities give Voyager greater adaptability to relieve current economic situations and fortify our relationship with one of the business chiefs,” said Voyager’s CEO Stephen Ehrlich.

Notwithstanding the assets accessible under the credit offices, Voyager said it has more than $200 million on its accounting report.

On May 17, shares of Voyager Digital were downgraded to neutral from buy by boutique investment firm Compass Point, which cited headwinds across the crypto industry and questioned how the trading platform’s retail investors will fare during the market rout.

Beforehand, Voyager brought $60 million up in a confidential position presenting at $2.34 an offer driven by Alameda Research. The supply of the merchant has fallen around 91% this year, exchanging around C$1.34 per share on Friday, as indicated by TradingView information.


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