- In the statement, they’ve revealed that the corporation owes them 15,250 BTC (Bitcoin) and 350 Million USD Coin (USDC).
- The stock closed at 0.05998 USD, marking a drop of 50.8% in a single trading day
- Coinbase stock suffered a 9.71% dip to $51.91, while the heavily BTC-exposed MicroStrategy led by Michael Saylor saw its shares drop 4.50% to $170.91
3AC owing Voyager Digital Big-Time
Have you heard of the controversy between Voyager Digital and Three Arrows Capital, commonly known as 3AC?
Well, if you haven’t, read the article to find out:
After the announcement made by Voyager Digital about their owed capital from Three Arrows Capital, commonly known as 3AC, it has been a sloppy downfall for the company.
In the statement, they’ve revealed that the corporation owes them 15,250 BTC (Bitcoin) and 350 Million USD Coin (USDC).
This accounts for a total of approximately 660 million dollars.
Actions Taken By Voyager Digital
- Voyager has given 3AC until June 24, 2022, to pay 25 million dollars.
- After the payment of the initial 25 million, the corporation needs to pay the whole amount without due before 27 June 2022.
- After the deadline, if the amount is not deposited, it will be considered as default.
- The company is reportedly working with a team of lawyers to work on legal actions to be taken on 3AC if they are unable to repay the amount they owe.
The VYGVF has dropped around 60%!!!
This was done during the regular trading hours on June 22. The stock closed at 0.05998 USD, marking a drop of 50.8% in a single trading day.
Other cryptocurrencies continue to struggle in the market. Coinbase stock suffered a 9.71% dip to $51.91, while the heavily BTC-exposed MicroStrategy led by Michael Saylor saw its shares drop 4.50% to $170.91.
ALSO READ: Crypto strategist alerts of the bitcoin price crash
Source: https://www.thecoinrepublic.com/2022/06/23/voyagers-announcement-crashing-its-own-market/