Crypto company Voyager Digital has declared bankruptcy

Written By Eleman

Crypto company Voyager Digital has announced that they have filed the bankruptcy flag. Voyager Digital, which made a revolving loan agreement with Alameda Research in the past weeks with 200 million dollars USDC and 15 thousand Bitcoins, filed for bankruptcy.

Crypto brokerage firm Voyager Digital has filed for bankruptcy, adhering to section 11 of the US bankruptcy law. Companies that want to go bankrupt by using this article enter into a restructuring process under certain conditions.

They got a loan from Alameda

voyager 1132x670 1

As it will be remembered, Voyager, which also sent my default information to another fund company, Three Arrow Capital, which is on the verge of bankruptcy, also received a large amount of credit from Alameda Research, but despite this, it also suspended the deposit, withdrawal and trading features on the platform last Friday.

Despite this loan, Voyager shares fell sharply on the first subsequent stock market day. Shares of the company fell 40 percent.

The value of cryptocurrencies under the management of Voyager Digital was around $7 billion at its best.

LUNA/UST crisis

With the onset of the LUNA/UST crisis, Terraform Labs also sold 80 thousand Bitcoins, and these sales created bigger crises in companies that needed liquidity such as 3AC, Celsius and Voyager. Bankruptcies followed with the failure to pay the debts.

On the other hand, Celsius, another “crypto bank”, continues to pay its debts. For Celsius to be liquidated, the Bitcoin price must now fall below $3,000.

Leave a Comment