Self Made on App

Alameda Research's help to Voyager Digital is considered suspicious

By Yugocean | Crypto Champion | 21 Jun 2022


     The company "Alameda Research" of Sam Bankman-Frieds, (abbreviated as "SBF"), recently made an effort to save crypto brokerage "Voyager Digital" from bankruptcy by providing two revolving loan, but this is suspicious.

The Loan

Voyager Tweet

     The provided loan arrangements are of approximately $500 million. The first credit is for $200 million USDC, while the second is for 15k Bitcoins. The loan is secured by a non-binding term sheet with a 5% annual interest rate until December 2024. SBF is being appreciated for this help, but people are also expressing doubts about his intentions.

The Suspicious

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     SBF is also known for defending Do Kwon and Luna Scam, his company Alameda Research is believed to have sold 50k stETH to depeg the price of stETH from ETH, causing financial loss to Celsius which had large amount of stETH. This resulted into Celsius lacking the liquidity to pay to its clients. 

The Suspense 

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     SBF has denied the allegations, he is promoting himself as "saviors". However, according to some crypto analysts, SBF is trying to acquire Voyager, because last year (2021) SBF's company FTX had contributed 120 million to the Japanese company "Liquid", but later tried to acquire it.

 

The Alertness 

      This time, crypto platforms are at risk of insolvency in the bear-infested crypto market. So, no platform is in mood of denying help. Voyager is taking full care about loan, company has $200 million in assets on its balance sheet and will only use the loans if it is absolutely necessary.

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Yugocean
Yugocean

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Crypto Champion
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