Voyager to settle with Execs who approved ~$1B loan to 3AC
In early 2022, crypto lender Voyager Digital issued a default notice against Three Arrows Capital for failing to repay a loan worth approximately $650 million. Per the official documents, 3AC had a debt of 15,250 Bitcoin and 350 million USDC to Voyager Digital. However, the loaned crypto was valued at almost $1 billion [to be precise, $935 million] in April 2022. When Voyager filed for bankruptcy protection earlier this year, it stated that 3AC’s loan default was a major factor that instigated its insolvency. Read More: Crypto Lending Firm Three Arrows Capital Gets Notice; $650M Debt Settlement recommendation Now according to reports, Voyager Digital’s internal special committee has proposed to settle claims against company executives who flashed a green light with minimal due diligence for the loan to the failed crypto hedge fund . According to the court filing, Voyager said that pursuing litigation against Chief Executive Officer Stephen Ehrlich and anothe...