Voyager Capital issues default notice to crypto hedge fund

• Three Arrows Capital has to repay more than $670 million in loans

Cryptocurrency exchange Voyager Digital (NYSE: VYGVF) issued a default notice to hedge fund Three Arrows Capital (3AC) for failing to pay its 15,250 bitcoin and 350 million USD Coin (USDC) loan disclosed in a previous statement.

Prominent crypto hedge fund Three Arrows Capital, has to meet a deadline on Monday to repay more than $670 million in loans or face default. The ripple effect of the latter scenario could reflect throughout the digital asset market.

Voyager gave Three Arrows Capital until June 24 to repay $25 million USDC and the entire outstanding loan by June 27, Monday.