Alameda Will Pay The Insolvent Lender Voyager $200 Million

Trading company Alameda Research will pay back loans totaling $200 million made to the defunct cryptocurrency lender Voyager Digital.

According to a court document filed last night, Alameda will pay back principal and loan costs in the amount of 6,553 bitcoin (approximately $128 million) and 51,204 ether (about $70 million), as well as smaller sums in seven other tokens. According to the application, the loans must be repaid by September 30.

Voyager will then return to Alameda the tokens

If everything goes according to plan, Voyager will then return to Alameda the tokens the trading company had pledged as security for the loans — 4,650,000 in the FTX token FTT (roughly $112 million) and 63,750,000 in the utility token SRM (roughly $49 million), issued by the decentralized exchange Serum.

The information is released as Voyager sells off its possessions following its Chapter 11 bankruptcy filing in New York in June. FTX and Alameda publicly announced a liquidity offer to Voyager creditors in July, which drew criticism from Voyager, which charged Bankman-firms Fried’s with making “misleading or plain deceptive” promises. Bidders are kept secret as part of the process.

Following a string of bankruptcies in the crypto lending industry, FTX, the exchange with close ties to Alameda, has been linked to numerous prospective bailouts.

After the lender stopped allowing withdrawals in June, the company granted BlockFi a $250 million credit line and may ultimately buy the company outright.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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