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Voyager Digital and FTX agree to a $445 million loan

Voyager Digital and FTX agree to a $445 million loan

Voyager Digital has reached an agreement with FTX and its unsecured creditors to hold a disputed $445 million loan payment until a settlement or court order is reached. This was stated in a court filing on February 22nd.

According to the filing, the bankrupt cryptocurrency lender will also hold a $5 million deposit made by FTX in escrow until ownership is litigated in the New York Bankruptcy Court and decided by settlement or a final and unappealable order.

The relationship between FTX, Alameda, and Voyager is complex due to their respective bankruptcies. In January, Alameda Research, a sister company of FTX, sued Voyager for $445.8 million, alleging that Voyager “fueled” Alameda’s misuse of customer funds, either knowingly or recklessly.

READ MORE: Bitcoin and Litecoin to Pull Back, Says Analyst

Voyager, on the other hand, believes that Alameda has been trying to undermine its restructuring efforts and recently subpoenaed top Alameda and FTX executives over their failed acquisition deal. Additionally, Alameda objected to the purchase of Voyager’s assets by Binance US.

Voyager’s business boomed during the COVID pandemic. Last year, however, the company became one of the casualties of the dramatic fall in prices that shook the cryptocurrency sector.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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