Bankrupt cryptocurrency lender, Voyager, has signed a non-binding term sheet with SBF-controlled quantitative trading firm, Alameda Research, to secure funding amid the current market turmoil. The two loans will be primarily offered and released in cryptocurrency.

As stated in the announcement, the first part of Voyager’s credit line involves a combination of cash and USDC-based credit facility with the aggregate principal amount equal to $200 million. The second accruing credit facility is 15,000 BTC which is approximately $309 million.

Alameda will receive around $160 million as pledged collateral in the form of 4.65 million FTT ($112 million approx.) and 63.75 million in SRM (nearly $49 million) in exchange for the loan. Voyager Digital has now revealed that its balance sheet is now worth more than $200 million plus the addition of the loan.

Voyager Digital filed for Chapter 11 bankruptcy in New York in July this year after suffering huge losses from its massive exposure to cryptocurrency hedge fund Three Arrows Capital (3AC). The lender held a private asset auction where its bidders identities were kept confidential and attendance was strictly by invitation.

However, FTX and Alameda went on to announce their bid on social media. This led to a public spat that ended up in a court tussle. Voyager then stated that the bailout deal offered by three companies with ties to Sam Bankman-Fried openly disparaged the lender and made some very misleading and outrightly false statements.

Voyager’s troubles also dragged Mark Cuban, owner of the NBA team, Dallas Mavericks. A lawsuit was filed against him last month alleging that he and Stephen Ehrlich lured inexperienced investors to invest their savings into the company by promoting Voyager products many times. The plaintiffs accused Voyager of running a Ponzi Scheme and claimed the duo tried hard dupe millions of Americans by using their experience as investors.

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