Voyager Seeks to ‘Unwind’ Alameda Loan

Voyager Digital has asked a federal bankruptcy court in New York for an order to “unwind” a loan it made to crypto quant trading firm Alameda Research that was largely denominated in crypto.

  • The loan was initiated in September 2021. It was denominated in crypto; largely bitcoin, ether, and USDC.
  • In exchange for paying the loan, Alameda will receive $160 million back in its pledged collateral.
  • In July, Alameda tweeted that it's "happy to return the Voyager loan and get our collateral back whenever works for Voyager."
  • Alameda Ventures, a separate company from Alameda Research that's controlled by the same management, has also loaned $200 million in cash and USDC as well as 15,000 BTC to Voyager in order to “mitigate current market conditions.”
  • Alameda Ventures is a shareholder of Voyager Digital.
  • In addition, FTX, which has similar shareholders to Alameda's two entities, is in the lead to buy Voyager, according to a prior CoinDesk report.
  • Binance CEO Changpeng Zhao has previously tweeted that the complex relationship between all of the firms is "hard to follow."
  • The court filing also requests that both parties' cryptocurrency wallet addresses remain confidential.