Coffee And Crypto: Wednesday's Top Stories And Price Action

The worldwide cryptocurrency market capitalization is at $893.8 billion on Wednesday, down from $927 billion on Tuesday afternoon.

Crypto asset broker and trading platform Voyager Digital announced on Wednesday that it is threatening the hedge fund Three Arrows Capital (3AC) with a default notice over its debt to Voyager.

The company said its exposure to 3AC consists of 15,250 Bitcoin BTC/USD and $350 million worth of stable coin USDC USDC/USD. Voyager made the request that it expects all debts to be paid by June 27.

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Meanwhile, Voyager and BlockFi both received credit facilities upwards of $250 million from Alameda Research, which is a quantitative cryptocurrency trading firm that provides liquidity in cryptocurrency and digital asset markets, founded by FTX CEO Sam Bankman-Fried.

Bitcoin is down 3.71% in the last 24 hours, rebounding from Friday's lows of $17.7k — the coin priced at $20,367 on Wednesday morning.

Let’s take a peek at some of the other top cryptos.

Ethereum ETH/USD

The popular altcoin used mainly for the purchase of NFTs remains buoyant, floating around 52-week lows. The coin is trading at $1,085.70.

Solana SOL/USD

The “fast, secure, and scalable” coin is trading 6.25% lower in the last 24 hours, with prices hovering around $35.13 on Wednesday.

BNB BNB/USD

Binance’s native coin is trading 2.92% lower to $216.27.

Dogecoin DOGE/USD

The ever-popular altcoin is trading 3.93% lower to $0.062.