Crypto Hedge Fund Three Arrows Defaulted on Loan

"Crypto broker Voyager Digital Ltd. VOYG -22.08%▼ said that hedge fund Three Arrows Capital Ltd. had defaulted, failing to make loan payments tied to large bets in the digital-currency realm. Three Arrows had borrowed $675 million from Voyager Digital in the form of 15,250 bitcoin and $350 million in USD Coin, a stablecoin whose value is pegged to the dollar. Voyager had previously said it would issue a notice of default if the crypto hedge fund didn’t repay the loan by Monday."