Three Arrows Capital Allegedly Owes Voyager Digital $655M — Crypto Firm Is ‘Unable to Assess’ if It Can Recover the Funds

According to reports, the TSX-listed Voyager Digital is another company that has been negatively affected by financial issues tied to the crypto hedge fund Three Arrows Capital (3AC).

Voyager's 60% share price plunge leads sea of red for crypto stocks

VYGVF dropped as much as 60% during regular trading hours on June 22 before closing at $0.5998 to mark a drop of 50.84% for the day. A 60% plunge of Voyager Digital’s (VYGVF) share price since it disclosed its Three Arrows Capital (3AC) exposure has been accompanied by further falls in crypto industry stocks.According to data from trading view, VYGVF plunged as much as 60% during regular trading hours on June 22 before closing at $0.5998 to mark a drop of 50.84% for the day.The sharp drop followed Voyager Digital disclosing that the potentially insolvent Three Arrows Capital (3AC) owes the company 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) worth around roughly $660 million in total.

Report: Crypto Hedge Fund Three Arrows Capital Pitched a GBTC Arbitrage Trade Before Rumored Collapse

Last week there was a lot of focus on the crypto hedge fund Three Arrows Capital (3AC) as the firm allegedly had a great deal of leveraged positions liquidated and there’s been speculation about insolvency.

Cumberland Sees Massive OTC Moves During Crypto Market Rout — ‘Most Volume We’ve Seen This Year’

During the last week, while crypto markets got hammered, digital currency-centric over-the-counter (OTC) trading desks were swamped with orders.