- Voyager appealed in the New York bankruptcy court to pass an order and ask Alameda to repay the loan issued by Voyager.
Voyager Digital requested the federal bankruptcy court in New York to pass an order to “unwind” the loan issued by the firm to Alameda research that was largely denominated in crypto.
The loan issued to Alameda research was in the form of cryptos like Bitcoin, Ether, and USDC. After paying back the loan, Alameda will get back its lock collateral amounting to $160 million.
Alameda Research expressed its happiness in returning the loan to Voyager and is also glad because of getting collateral.
Alameda Venture is a separate company. Alameda Research is also holding a loan of $200 million in cash and USDC as 15K Bitcoin to Voyager to ” mitigate current market conditions.”
Alameda Ventures is also a shareholder of Voyager Digital.
The honourable court also ordered that the transaction performed by the crypto wallets of both companies should remain confidential.
On Tuesday, September 5th, 2022, Voyager Digital filed a notice with the US Bankruptcy Court of New York. The notice from the bankrupt crypto lender came in the wake of informing the court of the company’s objective to organise an auction of overall remaining digital assets.
Voyager’s filing proposed holding the auction on September 13th, 2022. The venue for this event was said to be the Manhattan office of Moelis & Company, an investment banker of Voyager Digital.
On Wednesday, August 25th, 2022, co-CEO of Alameda Research, Sam Trabuco, went on to Twitter and announced stepping down from his role in the company. He further added that he would be an advisor for the crypto trading firm.
Alameda Research is a well-known crypto trading firm founded by Sam Bankman-Fried. The man behind the Bahamian crypto exchange giant, FTX. Alameda Research is involved in the operation through a vast trading network, yield farming, market making, and startup investments.
Source: https://www.thecoinrepublic.com/2022/09/20/voyager-aimed-to-unwind-alameda-loan/