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Sam Bankman-Fried’s Alameda Research will return $200 million borrowed from Voyager Digital

Sam Bankman-Fried’s Alameda Research will return $200 million borrowed from Voyager Digital #Sam #BankmanFrieds #Alameda #Research #return #million #borrowed #Voyager #Digital Welcome to Americanah Blog, here is the new story we have for you today:

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Sam Bankman-Fried’s Alameda Research will return $200 million in cryptocurrency it had borrowed from bankrupt crypto lending platform Voyager Digital, according to a court filing.

The trading firm founded by the CEO of crypto exchange FTX took a loan in crypto from Voyager last year, which at the time was worth about $380 million.

According to the Monday filing, Alameda will pay back about 6,553 Bitcoin as well as about 51,000 Ether, a sum that includes accrued fees, before the end of September. 

In return, Voyager will return the $160 million in collateral that backed the loan, including 4,650,000 of FTX’s cryptocurrency FTT and 63,750,000 SRM (Serum) tokens. 

Through its official Twitter account, Alameda had previously said it was open to repaying the $200 million loan and getting back its collateral. But the relationship between the two companies has been tense lately, as Voyager has conducted a search for a buyer amid bankruptcy proceedings.

In July, three companies linked to Bankman-Fried, including FTX and Alameda Research, proposed to buy most of Voyager’s digital assets and digital asset loans, and give its customers, who have been blocked from withdrawing funds from the platform for months, a way to get back some of their money.

Despite a positive response from some Voyager customers seeking any sort of recompense, the company rebuffed the offer, painting it as “a low-ball bid dressed up as a white knight rescue.” 

Yet, in recent days, FTX has reportedly emerged as a likely buyer of Voyager, according to CoinDesk, although the offer amount wasn’t disclosed.

Voyager Digital filed for Chapter 11 bankruptcy in July days after it suspended withdrawals from its platform. The company suffered in the aftermath of the collapse of stablecoin TerraUSD and its sister crypto Luna earlier this year, and took a blow from what was at the time a $661 million exposure to once-prominent crypto hedge fund Three Arrows Capital.

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