Alameda Research ‘happy to return’ $200M loan to Voyager Digital

Quantitative trading firm Alameda Research will return a valuation of $200 million to Voyager Digital, which is in bankruptcy. Alameda borrowed funds in cryptocurrency in September 2021. At the time, the total was nearly $380 million.

According to a recent filing in Bankruptcy Court for the Southern District of New York, the parties have arrive According to the agreement, Alameda will return approximately 6,553 Bitcoin (BTC) and 51,000 Ether (ETH) by September 30. On his company Twitter account, Alameda confirmed that it was ready to return the funds:

Voyager, in turn, will have to return the collateral in the form of 4.65 million FTX tokens (FTT) and 63.75 million serum (SRM), totaling $160 million at press time. The company has been in Chapter 11 bankruptcy proceedings since July and began auctioning its assets in September to return some of the funds to customers.

During the bankruptcy case, court proceedings and financial documents revealed a deep relationship between Voyager and Alameda. In June, when Voyager was in trouble, Alameda switched from borrower to lender with a $500 million bailout. However, this led to an open conflict between the two parties, with Voyager rejecting the takeover, claiming it could “hurt customers.”

related: Alameda Research and FTX Combine VC Business

Also, Voyager’s Finance Book show It provided $1.6 billion in crypto loans to an entity based in the British Virgin Islands, which is also where Alameda is domiciled. At the same time, Alameda is also Voyager’s largest shareholder, acquiring an 11.56% stake in the company through two investments totaling $110 million.Earlier this year, Alameda Surrender 4.5 million shares to avoid reporting requirements, bringing its share capital down to 9.49%.

Like several other crypto platforms and lending entities such as Celsius, BlockFi, and Hodlnaut, Voyager struggled to continue operating after the global crypto market crashed in early summer 2022.