It’s not often a borrower bails out its lender, especially when it’s to the tune of hundreds of millions of dollars.
Alameda Research, the firm founded by crypto billionaire Sam Bankman-Fried that last month extended a $500 million line of credit to crypto broker Voyager Digital, itself owes the company $377 million, according to Voyager’s Chapter 11 bankruptcy filing.
It’s an unexpected revelation that’s come to light by way of a bankruptcy that has seemed like a foregone conclusion since Voyager disclosed that hedge fund Three Arrows Capital owes it more than $600 million.
A table on page 13 of the bankruptcy filing, which was submitted in a New York district court today, shows that Alameda Research owes Voyager $377 million at an interest rate of 1% to 5%. The outstanding balance includes a $75 million unsecured loan, according to a list of Voyager’s largest unsecured claims on page 119 of the filing.
List of Voyager…
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