The TSX-listed crypto company said Three Arrows failed to repay 350 million USDC and 15,250 Bitcoin, collectively worth roughly US$665 million. (The Logic)
Skip to content
The TSX-listed crypto company said Three Arrows failed to repay 350 million USDC and 15,250 Bitcoin, collectively worth roughly US$665 million. (The Logic)
Talking point: A default by Three Arrows, a major crypto hedge fund, would put additional pressure on Voyager to meet withdrawal requests from its customers. The platform offers crypto trading as well as ways for customers to earn yield on their crypto holdings in a manner similar to Celsius, the CDPQ-backed startup that suspended withdrawals this month amid reports it is facing a potential bankruptcy. In addition to roughly US$137 million in cash, Voyager has access to US$200-million and 15,000-bitcoin lines of credit from Alameda, a firm affiliated with crypto billionaire Sam Bankman-Fried. Voyager has used US$75 million of the credit line, it said. Last week, the company lowered withdrawal limits for customers from US$25,000 to US$10,000 as turmoil continued to hit the crypto market.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
For this Alberta tech firm, ‘Buy Canadian’ isn’t working as advertised
Briefing
Lululemon issues apology for using Japanese-inspired design to honour China
Shai Gilgeous-Alexander drops Converse to lace up for corporate parent Nike
Oil market could see a ‘significant’ supply surplus again in 2027: IEA
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
