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lameda Research, a trading firm, will repay about $200 million in loans to Voyager Digital, the bankrupt cryptocurrency lender.

According to a court filing last night, Alameda will repay $6,553 in bitcoin (roughly $128 million) and $ 51,204 in ether (approximately $70 million) in principal and lending fees as lower quantities in seven other tokens. The loans must be repaid by September 30, according to the filing.

If everything goes as planned, Voyager will return to Alameda the tokens it had pledged as collateral for the loans: 4,650,000 in FTX's token FTT (approximately $112 million) and 63,750,000 in SRM (approximately $49 million), the utility token of distributed exchange Serum.

The announcement comes as Voyager prepares to auction off its assets following its June Chapter 11 bankruptcy filing in New York. Bidders are kept anonymous as part of the process, but FTX and Alameda publicly announced a liquidity offer to Voyager creditors in July, urging criticism from Voyager, who suspected Bankman-businesses Fried's of making misleading or outright false claims.

Following a series of collapses in the crypto lending sector, FTX, an exchange with strong relations to Alameda, has been linked to multiple potential bailouts.

BlockFi was given a $250 million credit facility after the lender suspended withdrawals in June, and the company may still be acquired outright.

What will happen now to Alameda after this move? Will it have an impact on the crypto industry? Drop your comments by sharing this article on your social media.

*Article photo credits to their rightful owner*

Posted 
Sep 20, 2022
 in 
Crypto News
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