Voyager Digital has issued a default notice to Three Arrows Capital

The cryptocurrency platform Voyager Digital announced that its subsidiary Voyager Digital LLC has issued a default notice to Three Arrows Capital (3AC) due to 3AC's failure to repay previously disclosed loans, including 15,250 bitcoins and 350 million USDC. Voyager is consulting with legal advisors on recovery options.

Despite 3AC's default, Voyager stated that the platform is still processing customer transactions and withdrawals normally. As of June 24, the company holds approximately $137 million in cash and its own crypto assets, and has access to a $200 million cash and USDC credit facility provided by Alameda Ventures, as well as a credit line of 15,000 bitcoins, of which $75 million has currently been utilized.