Voyager Digital another casualty of Three Arrows Capital

The company said it had initially asked for repayment of $25 million USDC by June 24, and later requested that the entire amount be repaid by June 27. However, neither of those have been repaid, Voyager added.

Voyager is also discussing legal remedies available to recover the amount from the hedge fund, it said.

Hurt by a rout in the digital assets market, Three Arrows is exploring options including a sale of assets and a bailout by another firm, the Wall Street Journal reported last week.

Earlier this month, Voyager signed an agreement with Alameda Ventures Ltd for a revolving line of credit, seeking access to additional capital to meet its customers' liquidity needs as crypto prices take a hit.