Everything about Voyager seeking repayment of $200m loan to Alameda

ambcrypto.com:

Court filings made by Voyager Digital indicate that the bankrupt crypto lender is seeking to unwind a loan of $200 million that was extended to Alameda Research, Sam Bankman-Fried’s quantitative crypto trading firm.

The loan was initiated in September last year against the collateral of $160 million posted by Alameda Research. Upon repayment, Voyager will unlock the collateral, which consists of 4.65 million FTX tokens (FTT) worth $111.6 million, and 63.75 million Serum (SRM) worth $49.25 million.

6,553 BTC ($127.8 million) and 51,204 ETH ($70.2 million) make up the principal loan amount. The loan consists of smaller amounts denominated in several other tokens. The repayment is due by 30 September.

When Voyager had voluntarily filed for Chapter 11 bankruptcy on 5 July, Alameda Research announced within days that it would be willing to return all outstanding debts and secure its collateral at the discretion of Voyager.

Voyager Digital’s recent actions suggest that the firm is looking to accumulate cash, likely to counter the hole in its balance sheet, left by multiple creditors defaulting on their loans, including the $650 million loan to the now defunct crypto hedge fund Three Arrows Capital.

Voyager had announced on 6 September that it would be liquidating its remaining assets through an auction that was scheduled for 13 September. This news came as a relief to creditors since the auction indicated multiple bids for the firm’s assets. As of 20 September, the auction had not concluded. 

Sam Bankman-Fried’s FTX and crypto exchange Binance have been identified as the two frontrunners competing to acquire Voyager’s assets in the auction.

Voyager Digital’s relationship with Alameda or even Sam Bankman-Fried is not limited to the