Troubled crypto lender Voyager Digital is set to acquire several million dollars worth of crypto assets from Alameda Research.
According to a recent Court filingsFTX CEO Sam Bankman-Fried’s crypto trading firm will repay about $200 million worth of debt to Voyager, a crypto brokerage that filed for bankruptcy earlier in the year.
Court documents reveal that Alameda Voyager will pay 6,553 Bitcoin (BTC) and 51,204 Ethereum (ETH), worth about $124.5 million and $68.7 million, respectively, at the time of writing.
“The parties agree that the Borrower shall repay all outstanding amounts under certain loans, in accordance with the terms of the Credit Agreement and the terms of this Repayment Letter, taking into account all previous repayments and refinancings.”
After receiving the payment, Voyager Alameda will return the 4,650,000 FTX Tokens (FTT) and 63,750,000 Serum (SRM) that were held as collateral for the loan. The loan is due Sept. 30, according to court documents.
Voyager initially filed for bankruptcy two months ago after crypto firm Three Arrows Capital (3AC), a prominent borrower, failed to repay a significant loan worth more than $650 million and the digital asset lender stopped all customer deposits, withdrawals and trading.
Bankman-Fried initially proposed a bailout for Voyager in July, which many in the crypto community said would further hurt Voyager customers.
The CEO replied,
“We have submitted an offer: if accepted, any customer who wants to come in and get all their leftovers back as soon as possible.
This will allow customers—if they choose—to get the remaining assets back without any fees or additional haircuts.”
Voyager’s native asset, VGX, is changing hands at $0.654 at the time of writing, a 4% gain on the day.
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Featured Image: Shutterstock/Xiao Risu
