Troubled cryptocurrency lender Voyager Digital will receive hundreds of millions of dollars in crypto assets from Alameda Research.
According to the most recent court documentsFTX CEO Sam Bankman-Fried’s crypto trading firm will return a loan worth nearly $200 million to Voyager, a crypto brokerage that filed for bankruptcy earlier this year.
Court documents show that Almeda will repay Voyager 6,553 bitcoin (BTC) and 51,204 ether (ETH), worth nearly $124.5 million and $68.7 million, respectively, at the time of writing.
“The parties have agreed that the Borrower will repay all outstanding amounts under the Designated Loan in accordance with the terms of the Credit Agreement and this Repayment Letter, taking into account all prior repayments and refinancings.”
Upon receipt of payment, Voyager will return 4,650,000 FTX Tokens (FTT) and 63,750,000 Serum (SRM) to Alameda as collateral for the loan. Court documents show the loan is due on September 30.
Voyager initially filed for bankruptcy two months ago after prominent borrower crypto firm Three Arrows Capital (3AC) failed to repay a large loan worth more than $650 million, causing the digital asset lender to halt all customer deposits, withdrawals and transactions.
Bankman-Fried originally proposed a bailout for Voyager in July, and many in the crypto community said it would further harm Voyager’s customers.
The CEO responded,
“We put in an offer: if it’s accepted, any customer who wants can come and get everything they have left as soon as possible.
It allows clients – if they so desire – to get back their remaining assets immediately, without any fees or additional haircuts. “
Voyager’s native asset, VGX, was changing hands at $0.654 at the time of writing, up 4% on the day.
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