December 8, 2022

Troubled crypto lender Voyager Digital will acquire hundreds of millions of dollars in crypto assets from Alameda Research.

According to the post court filingFTX CEO Sam Bankman-Fried’s cryptocurrency exchange will return an approximately $200 million loan to Voyager, a crypto brokerage that filed for bankruptcy earlier this year.

Court documents reveal that Alemeda will pay Voyager 6,553 Bitcoin (BTC) and 51,204 Ethereum (ETH), worth approximately $124.5 million and $68.7 million at the time of writing, respectively.

“The Parties agree that the Borrower will repay all amounts due under the specified loans, subject to all previous repayments and refinancing, in accordance with the terms of the credit agreement and this letter of payment.”

Upon receipt of the payment, Voyager will return to Alameda the 4,650,000 FTX token (FTT) and 63,750,000 Serum (SRM) that were held as security for the loan. According to court documents, repayment of the loan is due on September 30.

Voyager initially filed for bankruptcy two months ago after crypto company Three Arrows Capital (3AC), a prominent borrower, failed to repay a large loan worth more than $650 million and caused the digital asset lender to halt all customer deposits, withdrawals and deals.

Bankman-Fried initially proposed a bailout for Voyager in July, which many in the crypto community said would further harm Voyager customers.

The CEO responded by saying,

“We made an offer: if it was accepted, any customer who wanted could come in and get their share of whatever was left, ASAP.

Customers – if they choose – will be allowed to take back the remaining assets immediately, without additional fees or deductions.”

Voyager’s original asset, VGX, changed hands for $0.654 at the time of writing, up 4% from today.

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Featured Image: Shutterstock / Shiao Risu

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