Voyager Digital (TSX: VOYG) this morning announced that it has a new major investor in its equity, which is also strategic in nature. The company has seen Alameda Research, a “pioneer” in the crypto space, make a significant investment in the company. The kicker however, is that almost no details were provided on the transaction.
Alameda Research is a significant name within the crypto industry, with the company providing market making activities to crypto exchanges around the globe. The company currently trades over $5.0 billion per day, with its services being provided to all major coins and altcoins.
The arrangement between the two firms will see the investment of $75 million into Voyager by Alameda. And oddly, that’s the extent of what was released in terms of financial details. Its unclear at what price the investment will be made, specifically what the funds will be used for, or even when the transaction will be completed.
What is known, is that there is also a strategic alliance being formed, which in the near term will be used for order flow and asset management. Longer term, Voyager indicated it may work with Alameda for NFT and crypto derivative offerings on its platform, in addition to “thought leadership.”
Voyager Digital last traded at $12.70 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
