Alameda Research will repay two sizable loans with ether and bitcoin as collateral. A $200 million loan from Alameda Research to the insolvent Voyager Digital will be repaid. Alameda will also get its $160 million in collateral back after repayment. Alameda Will Pay Back Principal Loan According to a court document filed last night, Alameda will pay back principal and loan costs for $6,553 in bitcoin (about $128 million) and 51,204 in ether (nearly $70 million), as well as smaller sums in seven other tokens. According to the application, the loans must be paid back by September 30. If everything goes according to plan, Voyager will return the tokens Alameda had pledged as security for the loans: 4,650,000 in the FTX utility token FTT (about $112 million) and 63,750,000 in the SRM (around $49 million) token. The information is released as Voyager sells off its possessions following its June Chapter 11 bankruptcy filing in New York. As part of the procedure, bidders are kept anonymous. Nevertheless, FTX and Alameda announced a liquidity offer to Voyager creditors in July. This drew criticism from Voyager, which charged Bankman-companies Fried’s with making “misleading or simply deceptive” promises. Following a string of bankruptcies in the crypto lending industry, FTX, the exchange with close ties to Alameda, has been linked to numerous prospective bailouts. After the lender stopped allowing withdrawals in June, the Company gran...
Why is Bitcoin Cash Price up Today?
