Voyager Digital has filed to default, suspending many functions including deposits and withdrawals.
Cryptocurrency exchange Voyager Digital announced Friday that it was temporarily suspending trading, deposits, withdrawals and loyalty rewards. “The failure of a borrower, Three Arrows Capital, to repay a substantial loan from us makes this the right path forward,” Voyager Digital CEO Stephen Ehrlich said on Twitter soon after the service suspension went into effect.
“This decision, while far from optimal, will give us time to work to strengthen our balance sheet, a necessary condition to protect assets and preserve the future of the Voyager platform we have built together,” Ehrlich continued. A statement issued by the companyit has engaged Moelis & Co. and the Consello Group as financial advisers, and Kirkland & Ellis as legal advisers.
Voyagers, today we made the difficult decision to temporarily suspend trading, deposits, withdrawals, and loyalty rewards. Read more at:
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