SBF effectively bankrupted both Voyager and FTX. In the course of his attempt to cover his and his staff’s losses, SBF adversely affected the deposits of two sets of clients – Voyager's 100,000 depositors and FTX's 2.7 million (just in the U.S.). Maybe he already knew he was in deep shit, but he still hoped to move the fraud forward.
So, he took out a 1.6 billion dollar loan using somebody else’s money (Voyager and its clients) to try and cover his own positions.