Voyager Digital is pursuing 15,250 BTC and 350 million USDC from 3AC, initiating a $75 million emergency fund.

ForkMonger

2025-12-02 06:34:26

[Chain News] The encryption lending platform Voyager Digital is embroiled in a major default controversy. A subsidiary of the platform has officially issued a default notice to Three Arrows Capital(3AC) — the hedge fund failed to repay an astonishing loan: 15,250 Bitcoins plus 350 million USDC.

Voyager is currently working with a legal team to explore debt recovery solutions. Although it has hit this snag, the platform emphasizes that users' daily trading and withdrawal services remain unaffected and continue to operate as usual.

From a financial reserve perspective, as of June 24, Voyager holds approximately $137 million in cash and proprietary encryption assets. More critically, they can also access a lifeline from Alameda Ventures—a credit line comprising $200 million in cash and USDC, as well as a credit facility of 15,000 Bitcoins. Currently, $75 million of this emergency fund has been activated.

This default has exposed the liquidity risks in the encryption lending market that are coming to light.

BTC2.66%

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0xLuckbox

· 7h ago

3AC really messed up this time, 15,250 BTC, how desperate must that be.

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WalletDivorcer

· 7h ago

3AC really dares to owe, 15,250 Bitcoins, who can withstand this?

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GasWaster

· 7h ago

3AC really went big this time, 15,250 BTC... --- Voyager has Alameda's credit line to support it, so it shouldn't die in the short term. --- Another chain reaction, when will it end? --- Speaking of which, can Voyager recover from this? It feels uncertain. --- Who still dares to borrow coins now? This market is too crazy. --- That $200 million credit line from Alameda can't save everyone, right? --- Waiting to see what happens next; if 3AC is determined not to pay back, it will probably be harder to deal with. --- Withdrawals are not affected? I'm a bit skeptical... --- 137 million in cash against 15,250 BTC, that's quite a distance apart. --- This time it's really about who can run away first.

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BankruptcyArtist

· 7h ago

3AC has directly blown up the whole ecosystem this time. Another large default, it's exhausting to hear. Can Voyager hold on? It feels precarious. Can Alameda's $200 million save the situation? ... not very convinced. 15,250 Bitcoins, when this number comes out, I feel a bit dazed.

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TideReceder

· 8h ago

3AC has exploded again, Voyager is going to be dragged down... By the way, can we really rely on Alameda's rescue? More than 15,000 Bitcoins, how do we chase this account? I feel like the story is far from over. Users can withdraw as usual? I believe half of this.

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GoldDiggerDuck

· 8h ago

15250 BTC? This is going to take ages to catch up, 3AC really went big this time haha.

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