Alameda To Repay Voyager $200 Million in Crypto

Alameda To Repay Voyager $200 Million in Crypto
  • Alameda to Repay $200 Million in Crypto to Bankrupt Voyager.
  • Sam Bankman-Fried is a crypto billionaire and well-known figure in the trading sector.
  • Even according to Bloomberg, FTX allegedly tried to purchase Robinhood.

According to a court document from insolvent Voyager Digital Ltd., crypto millionaire Sam Bankman-Alameda Fried’s Research will return around $200 million in Bitcoin and Ether that it had borrowed from the company.

According to a separate filing made late Monday, the deal to return the cryptocurrency was made public after Voyager’s plea to have the loan to Alameda reimbursed was allowed by a New York bankruptcy court.

By turning the cryptocurrency exchange FTX into a popular platform utilized by traders and investors, Sam Bankman-Fried became a crypto billionaire and one of the most well-known figures in the sector.

With more than a million customers and an average daily trading volume of close to $10 billion, his company was valued at $32 billion in January. However, because it is still a privately held company, no one is aware of the full extent of its damage from the recent “crypto winter.” 

As a point of comparison, the publicly traded cryptocurrency Coinbase has lost over two-thirds of its value this year, and mining company Marathon Digital has seen a decline of more than half.

Bankman-Fried has recently tried to assume the position of an industry consolidator, purchasing troubled assets both to bet on their ultimate recovery and to enhance his presence in the United States. BlockFi, a crypto financing firm, has an option to be purchased by FTX in July. 

Two months prior, Bankman-Fried reported a 7.6% interest in Robinhood, a struggling trading app. Bloomberg even claimed that FTX was attempting to acquire Robinhood, although Bankman-Fried refuted the existence of any ongoing negotiations.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

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