Alameda Research, a trading firm, will refund $200 million in debts to Voyager Digital, the bankrupt cryptocurrency lender.
According to a court filing last night, Alameda will repay $6,553 in bitcoin (approximately $128 million) and 51,204 in ether (about $70 million) in principal and borrowing costs, as well as smaller amounts in seven other tokens. According to the application, the loans must be repaid by September 30.
If all proceeds 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 (about $49 million), the utility token of decentralized exchange Serum.
The announcement comes as Voyager auctions off its assets following its Chapter 11 bankruptcy filing in New York in June. Bidders are kept anonymous as part of the process, however, FTX and Alameda made a liquidity offer to Voyager creditors in July, drawing criticism from Voyager, which accused Bankman-enterprises Fried’s of making “misleading or plain dishonest” assertions.
Following a series of crises in the crypto loan sector, FTX, the exchange with close ties to Alameda, has been linked to various potential bailouts.
BlockFi received a $250 million credit facility after the lender suspended withdrawals in June, and the company may still be acquired entirely.