Alameda to Repay $200M Loan to Voyager as Asset Auction Nears

Alameda is set to repay crypto assets to bankrupt crypto lender Voyager that just months ago were worth double

article-image

Voyager Digital CEO Steve Ehrlich | Source: Voyager Digital

share

key takeaways

  • After successful repayment, Voyager will return Alameda’s collateral worth some $160 million
  • The bankrupt lender is set to announce sale of its assets to the highest bidder on Sept. 29

Quant trading firm Alameda Research is set to repay Voyager Digital loans worth almost $200 million, as the crypto lender makes its way through bankruptcy proceedings.

A court filing from Monday shows Alameda, founded by FTX CEO Sam Bankman-Fried, will pay back 6,553.42 BTC ($125.4 million) and 51,204.38 ETH ($69.1 million) in principal and loan fees, on top of smaller sums in other tokens including dogecoin, USDC, luna classic, and Voyager’s native asset VGX.

The payments are due on Sept. 30 at 5 pm ET. Voyager will return the collateral for loans that Alameda had pledged in the amount of 4,650,000 FTX tokens ($110.1 million) and 63,750,000 serum tokens ($49.1 million) if the payments are on time.

If Alameda is unable to meet its deadline, the bitcoin instalments will increase by 1.07 BTC ($20,500) per day, while the ether segments will increase by 9.59 ETH ($13,000) per day, the filing said.

Shortly before Alameda’s filing on Monday, Voyager Digital asked a federal bankruptcy court for an order to unwind the trading firm’s outstanding loans and return the collateral. 

When Voyager filed for Chapter 11 bankruptcy in early July, Alameda owed the lender $377 million in loans, which were denominated in raw tokens rather than US dollars. The value of Alameda’s loans have almost halved since then.

Two days later, Alameda tweeted that it was “happy to return the Voyager loan and get our collateral back whenever works for Voyager.” It had also lent Voyager $500 million to mitigate the tough market environment. 

The designated wallet addresses for the payoff amounts and the return of collateral were redacted in Alameda’s filing. Making Voyager’s wallet addresses public would affect its restructuring efforts by allowing open access to commercially sensitive financial information, the lender said.

Voyager is now in the process of liquidating its remaining assets. After receiving multiple bids, the final results will be announced in court on Sept. 29 at 2 pm ET. According to CoinDesk, FTX is in the lead to snap up its distressed assets.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

kamino cover.jpg

Research

Kamino has solidified its position as the leading money market on Solana and is emerging as a DeFi bluechip. Although DeFi competition is fierce, Kamino has kept iterating on its product to provide the best-in-class UX, paired with a robust risk management framework and battle-tested infrastructure. Given the rollout of Kamino Lend V2, the protocol may scale aggressively over the coming months, penetrating previously untapped markets in Solana DeFi.

article-image

Why that the bull market might not start until 2025

article-image

August’s annual headline figure came in at 2.3% after an upward revision Thursday, so things are moving in the right direction 

article-image

MSTR’s stock price was roughly $248 at 2 pm ET Thursday

article-image

Ever since rates came off zero and fiscal deficits exploded, markets have started paying close attention to how the government is funding itself

article-image

Solana memecoins are collectively at an all-time high

article-image

Optimistic rollups like Optimism, Arbitrum and Base are seeing rapid adoption relative to zk rollups