The bear market has bankrupted a string of cryptocurrency lenders. After Three Arrows Capital, Voyager Digital applied for a Chapter 11 bankruptcy, earlier this week. One thing that stood out in the submission was the involvement of FTX CEO Sam Bankman Fried’s Alameda Research. The company emerged as Voyager’s second-largest debtor. While this caused a bit of uncertainty in the crypto verse, Alameda finally decided to speak out.
Earlier today, Alameda Research tweeted:
According to the filing, the Sam Bankman-Fried-led company Voyager owes a whopping $377 million at an interest rate of 1 to 5 percent. In addition, a $75 million unsecured loan was discovered in the padding filed in the New York District Court.
This debt made Alameda Voyager’s second-largest borrower only after Three Arrows Capital filed for Chapter 15 bankruptcy.
Furthermore, the community was happy that Alameda would pay off her loan. It should be noted, however, that this alone would not resolve Voyager’s insolvency.
Will Sam Bankman-Fried Help Voyager?
Alameda Research owes the troubled firm itself money. Despite this, the Sam Bankman-Fried-led platform extended a $500 million line of credit to Voyager. Many of them, including Binance’s CEO Changpeng Zhao, interrogated this movement. Bailouts are clearly not CZ’s thing. Speaking of sticking to simple deals, huh said†
“Personally, for me, and to a large extent for Binance, we like very simple deals. We like deals like ‘What’s your turnover? What is your user number?’ We don’t like deals where, “Hey, I owe you this money, you pay me back so much money, you invest in me, I give you more money in loans, and then you save me from the fire.” Why don’t we just give all the money back and go back to zero and talk about the net, who owes who money?”
Although many of them called the FTX CEO about trying to save Voyager, he decided to deal with the commotion.
While the community is still trying to figure out Sam Bankman-Fried’s latest move, Voyager investors remained unsure of the final results.