Three Arrows Capital (3AC), a well-known cryptocurrency hedge fund, has now defaulted on a loan worth over $670 million. Voyager Digital, a digital asset brokerage, had recently issued a notice according to which the fund failed to successfully repay a $350 million loan in USDC and 15,250 BTC.
Voyager stated that it aims to continue pursuing 3AC recovery. In the meantime, the broker stressed that the platform is still operational and is actively fulfilling customer orders as well as withdrawals. However, experts believe that such assurance is presumably an attempt to keep fear of contagion from spreading throughout the wider cryptocurrency ecosystem and market.
Stephen Ehrlich, Voyager CEO and Co-Founder, said that the team is working tirelessly and quickly to improve the situation and pursue viable options to continue meeting customer liquidity demands.
Elsewhere, FTX CEO Sam Bankman Fried's quantitative trading firm, Alameda, committed $500 million in funding to Voyager Digital in the previous week. Voyager has already drawn $75 million from this credit line, and Sam is also now the single biggest shareholder of Voyager Digital.
Alameda Research Commits $500 Million to Fund Distressed Trading Platform, Voyager Digital
![](https://files.constantcontact.com/b44f1673801/827c56b4-43f3-444d-9811-79c077a38115.png)
![](https://cryptoweekly.co/img/CryptoWeekly-Logo.png.webp)
Subscribe to the CryptoWeekly Newsletter
Get the top stories, funding deals, technical analysis, cryptocurrency jobs and much more delivered to your inbox, every Monday morning.
![](https://files.constantcontact.com/b44f1673801/b2b70ffa-0e36-4130-8721-8558a172f9be.jpg)
July 26,2024
Solana Protocol Announces Rebranding And Launches New Stablecoin And Token
![](https://files.constantcontact.com/b44f1673801/e4263491-8536-41c6-8b85-dc4395260d9e.jpg)
July 26,2024
Senator Marshall Will No Longer Support Anti Crypto Bill
![](https://files.constantcontact.com/b44f1673801/15b5fbd6-3273-4d9c-ae3d-f60d7e2008df.jpg)
July 25,2024
HSBC Australia Will Block All Payments To Crypto Exchanges Going Forward
![](https://files.constantcontact.com/b44f1673801/98ef54b8-8c94-4232-ae78-f264480276f1.jpg)
July 25,2024
Kamala Harris Will Not Attend Upcoming Bitcoin Conference
![](https://files.constantcontact.com/b44f1673801/da56d11b-c05f-4d82-923f-196b296ec509.jpg)
July 24,2024
Toyota Plans To Adopt Ethereum Blockchain Technology For Its Vehicles
![](https://files.constantcontact.com/b44f1673801/68af468b-c48f-492a-a190-a43454314701.jpg)
July 24,2024
Coinbase Wants Access To Private Emails As Fight Against SEC Continues
![](https://files.constantcontact.com/b44f1673801/0e4251a9-d846-42c2-984e-d2806408c77b.jpg)
July 23,2024
Swan Bitcoin Shuts Down Mining Unit And Abandons IDO Plans
![](https://files.constantcontact.com/b44f1673801/ba0136f1-de0b-4c86-ade3-a3aadb462008.jpg)
July 23,2024
Markets React As US SEC Approves Spot Ethereum ETFs
![](https://files.constantcontact.com/b44f1673801/e45ae704-d352-4a15-bb91-c5ebc7aa8791.jpg)
July 22,2024
Elon Musk Adds Lazer Eyes Following Rumours Of His Attendance At Upcoming BTC Conference
![](https://files.constantcontact.com/b44f1673801/4b60f27c-6f55-40ef-8671-63e9c0b7bac9.jpg)
July 22,2024
Biden Officially Quits Presidential Race As Trump Supporters Celebrate
![](https://files.constantcontact.com/b44f1673801/82594195-386c-43f3-a8cb-70acaa2672fb.jpg)
July 22,2024
Web3 Fundraising Deals - July 16th to July 22nd, 2024
![](https://files.constantcontact.com/b44f1673801/1f0e0ef1-899b-409b-adcc-a9b7c5c3ce51.jpg)
July 21,2024