Voyager Digital engaged Moelis & Co. as financial advisors and issued a notice to 3AC

It was obvious that the Crypto-focused hedge fund, Three Arrows Capital will not be able to meet the deadline to repay more than $670 million in loans! Now the company is facing a legal procedures with Voyager Digital.  

Voyager Digital Ltd. has issued a notice of default to Three Arrows Capital ("3AC") for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC. Voyager intends to pursue recovery from 3AC and is in discussions with the Company's advisors as to legal remedies available.

The platform continues to operate and fulfill customer orders and withdrawals. As of June 24, 2022, Voyager had approximately US$137 million cash and owned crypto assets on hand. The Company also has access to the previously announced US$200 million cash and USDC revolver and a 15,000 BTC revolver from Alameda Ventures Ltd.