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Voyager Digital issues notice of default to Three Arrows Capital

Voyager said that it will continue to operate and fulfil their customers’ orders and withdrawals amid its current issues.

Crypto exchange Voyager Digital has issued a notice of default to hedge fund Three Arrows Capital (3AC) for its failure to pay its 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) loan disclosed in a previous statement. 

In a market update by Voyager, the exchange noted that it’s currently exploring “legal remedies” that are available with its advisors and is aiming to pursue the recovery of its funds from 3AC.

The company also said that there is no problem with the platform and that they are still serving their users.

Apart from these, the company has employed global investment bank Moelis & Company as its financial advisers to help its efforts to stabilize amid its exposure to 3AC.The team is currently working to strengthen themselves. They also try to solve users’ requests.

Voyager also has access to $75 million in assets through a deal with Alameda.

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Last week, Voyager gave 3AC deadlines for the repayment of its BTC and USDC loans. The firm requested $25 million to be paid last Friday and also requested the payment of the total balance Monday. However, despite the deadlines given, 3AC was unable to comply.

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About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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