PANews reported on December 2nd that cryptocurrency platform Voyager Digital announced that its subsidiary, Voyager Digital LLC, has issued a default notice to Three Arrows Capital (3AC) because 3AC failed to repay previously disclosed loans, including 15,250 bitcoins and 350 million USDC. Voyager is consulting with legal counsel to discuss recovery strategies.

Despite 3AC's default, Voyager stated that the platform is still processing customer transactions and withdrawals normally. As of June 24, the company held approximately $137 million in cash and its own crypto assets, and had access to a $200 million cash and USDC credit line and a credit line of 15,000 bitcoins provided by Alameda Ventures, of which $75 million has already been utilized.