Voyager Digital has asked a federal bankruptcy court in New York for an order to “unwind” a loan it made to crypto quant trading firm Alameda Research that was largely denominated in crypto.
[DB] Alameda Research to Repay ~$200m in Outstanding Loans From Voyager, Will Be Returned ~$160m in Collateral Pending Court Approval: Filing
— db (@tier10k) September 20, 2022
The loan was initiated in September 2021. It was denominated in crypto; largely bitcoin, ether, and USDC.
In exchange for paying the loan, Alameda will receive $160 million back in its pledged collateral.
In July, Alameda tweeted that it's "happy to return the Voyager loan and get our collateral back whenever works for Voyager."
Alameda Ventures, a separate company from Alameda Research that's controlled by the same management, has also loaned $200 million in cash and USDC as well as 15,000 BTC to Voyager in order to “mitigate current market conditions.”
Alameda Ventures is a shareholder of Voyager Digital.
In addition, FTX, which has similar shareholders to Alameda's two entities, is in the lead to buy Voyager, according to a prior CoinDesk report.
Binance CEO Changpeng Zhao has previously tweeted that the complex relationship between all of the firms is "hard to follow."
The court filing also requests that both parties' cryptocurrency wallet addresses remain confidential.
