Crypto broker Voyager Digital (VOYG) has signed a non-binding term sheet with Quant Trading Shop Alameda Research to ensure a revolving credit to protect its clients' assets from the current beer market conditions.
The loan will be in two parts. The first is a cash / USDC-based credit facility with a total principal of 200 million. The second revolving credit facility is for 15,000 BTC. In a statement Friday, the broker said Voyager would only use the credit facility if it needed to protect the client's assets.
Voyager raised $ 60 million in private placements on $ 2.34 shares led by Alameda Research. The broker's stock has fallen nearly 91% this year, trading around C $ 1.34 per share on Friday.