DECRYPTION – The crypto hedge fund was to repay 15,250 bitcoins and $350 million to Voyager Digital by June 27.
The cryptocurrency crisis has claimed another victim. The investment fund Three Arrows Capital had to reimburse before June 27 a loan contracted with the broker Voyager Digital. The hedge fund finally finds itself in default of payment according to its creditor. He did not repay the $675 million borrowed in the form of 15,250 bitcoins and $350 million in USD Coin, a stable currency whose value is pegged to the dollar. The news is all the more embarrassing as “3AC” funds the crypto ecosystem to the tune of $10 billion. An environment that is already endangered by the economic situation. Its potential fall could then cause a destructive domino effect.
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