THELOGICALINDIAN - According to letters the TSXlisted Voyager Digital is addition aggregation that has been abnormally afflicted by banking issues angry to the crypto barrier armamentarium Three Arrows Capital 3AC In a letter to investors Voyagers administration explained that 3AC potentially defaulted on a 655 actor accommodation and it hopes to access some of the funds by the end of this month
The Three Arrows Contagion: 3AC Owes $655 Million to Voyager Digital — Management Has Set a Repayment Date
3AC’s banking hardships accept acutely started a bane throughout the crypto industry and while a cardinal of firms said they were safe, others explained they were adversity from the fallout. For instance, a aggregation backed by 3AC alleged Finblox detailed on June 16 that it had to abeyance rewards (up to 90% APY) for all of its users, and the belvedere upped abandonment banned as well. This week, the about listed crypto aggregation Voyager Digital revealed it was ambidextrous with issues angry to 3AC.
In a letter beatific to Voyager’s investors on Wednesday, the aggregation appear it was owed $655 actor and 3AC was declared to pay the funds aback in bitcoin (BTC) and the stablecoin usd bread (USDC). Voyager is owed 15,250 BTC and 350 actor USDC, according to the company. Management said it originally asked for $25 actor account of USDC to be paid by June 24, but now it wants the absolute antithesis of USDC and BTC by June 27.
TSX-Listed Stock VOYG-T Loses Half of Its Value in a Day — Voyager Is ‘Unable to Assess at This Point the Amount It Will Be Able to Recover’
The account acutely did not sit so able-bodied with Voyager investors as the company’s shares alone 53% in amount during a 24-hour period. Presently, the TSX-listed banal VOYG-T is bottomward 52% and trading for $0.76 per unit. On June 21, VOYG-T exchanged easily for $1.60 per allotment and in March 2025, VOYG-T saw an best aerial (ATH) at $32.68 per share. VOYG-T is currently added than 97% lower than the ATH and the banal has been sliding lower anytime back crypto markets accept alone in value. The 3AC accommodation absence advertisement added addition draft to the amount of the company’s shares.
The letter that discusses the antecedent USDC acquittal request, and again the appeal for the absolute balance, says that Voyager does not apperceive if it will be repaid. “Neither of these amounts has been repaid, and abortion by [Three Arrows] to accord either requested bulk by these defined dates will aggregate an accident of default,” Voyager said. “[The aggregation is] clumsy to appraise at this point the bulk it will be able to recover.” Bitcoin.com News afresh appear on Three Arrows Capital and explained how the company’s founders accept been bashful about the situation.
3AC co-founder Kyle Davies did disclose to the Wall Street Journal (WSJ) that the Terra LUNA and UST fallout aching the aggregation and affairs were actuality fabricated to acquisition an “equitable solution” for all of 3AC’s constituents. Furthermore, 3AC allegedly tried to pitch a GBTC arbitrage barter to a lot of big name investors a few canicule afore the company’s accounted collapse. Besides Finblox, Voyager, and 3AC, Mike Novogratz’s Galaxy Digital has apparent its shares collapse decidedly back the Terra LUNA and UST fallout. Galaxy’s shares are bottomward abutting to 90% from the share’s amount highs in mid-November.
Novogratz was additionally bashful for a bit afterward the Terra abortion but again appear a public apology about the amount but said Galaxy did not ache abundant from the Terra collapse. This is because Novogratz said that Galaxy ashore to a amount assumption of advance which includes alone advance in what you are adequate losing. Since the letter, Novogratz has been a bit added alive on amusing media while abounding others who answer or invested in Terra accept remained bashful or dissociated themselves from the blockchain project.
What do you anticipate about the problems Voyager Digital faces with the crypto barrier armamentarium 3AC? Let us apperceive what you anticipate about this accountable in the comments area below.
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