The bear market has been pushing an array of crypto lenders into bankruptcy. After Three Arrows Capital, Voyager Digital filed for a Chapter 11 bankruptcy, earlier this week. In its filing, one thing that stood out was the involvement of FTX CEO Sam Bankman Fried’s Alameda Research. The firm emerged as Voyager’s second-largest debtor. While this created a bit of uncertainty in the crypto-verse, Alameda finally decided to speak up.
Earlier today, Alameda Research tweeted,
According to the filing, the Sam Bankman-Fried-led firm owes Voyager a whopping $377 million at an interest rate of 1 to 5 percent. In addition, an unsecured loan of $75 million was discovered in the filling submitted to the New York district court.
This debt made Alameda Voyager’s second-largest borrower only after Three Arrows Capital filed for Chapter 15 bankruptcy.
Furthermore, the community was glad that Alameda would be paying off its loan. However, it should be noted that this alone wouldn’t fix Voyager’s insolvency.
Will Sam Bankman-Fried aid Voyager?
Alameda Research itself owes the troubled firm money. Despite this, the Sam Bankman-Fried-led platform extended a $500 million credit line to Voyager. A lot of them, including Binance’s CEO Changpeng Zhao, questioned this move. Bailouts are clearly not CZ’s thing. Speaking about sticking to simple deals he said,
“Personally, for me, and to a large extent for Binance, we like very simple deals. We like deals like, ‘What’s your revenue? What’s your user number?’ We don’t like deals where, ‘Hey, I owe you this money, you pay me back this much money, you invest in me, I give you more money in loans, and then you bail me out.’ Why don’t we just return all the money and go back to zero and talk about the net, who owes who money?”
While a lot of them called the FTX CEO for trying to bail out Voyager, he decided to address the commotion.
As the community still tries to figure out Sam Bankman-Fried’s latest move, Voyager investors continued to remain uncertain of the final results.