Voyager Digital (VOYG) Crypto Broker Sign an agreement document with Alameda Research for revolving credit lines to protect customer assets from the current bear market
The loan is divided into two parts. The first is the cash/USDC credit limit. With a total principal of $200 million and a second revolving credit line of 15,000 BTC, Voyager will use the credit line where necessary to protect its clients’ assets. as mentioned indeclaration
The credit line will expire on December 31, 2024 and will have an interest rate of 5% per annum at maturity.
“Today’s action gives Voyager more flexibility to mitigate current market conditions,” said Voyager CEO Stephen Ehrlich.
In addition to the funds available under the credit line, Voyager said it had more than $200 million on its balance sheet.
On May 17, Voyager Digital shares were downgraded to “neutral” from “buy”, citing turbulence in the crypto industry and questioning how the trading platform’s retail investors will look during market downturns.
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