Crypto lender Voyager Digital is planning to settle with two top executives over their handling of loans made to crypto hedge fund Three Arrows Capital (3AC) following an internal probe, according to court filings submitted on Monday.
In March, CEO Stephen Ehrlich and then-Chief Financial Officer Evan Psaropoulos agreed to allow Voyager to lend Three Arrows nearly $1 billion in crypto with very little financial disclosure from the fund, according to the filings.
When LUNA and its sister token terraUSD began to collapse in May, Voyager sought to determine the impact on Three Arrows and was initially told Three Arrows had only limited exposure to LUNA. Later in June, however, 3AC employee Tim Lo advised Voyager to recall all of its loans to 3AC because he was concerned that 3AC’s founders weren't responding to requests for information from Lo and other employees.
With hours of that communication, Voyager recalled all its outstanding loans to 3AC, and the hedge fund soon entered into...
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