Voyager Digital freezes trading, deposits, withdrawals and rewards, blames 3AC default

07/02/2022

1 minute read

2022.07.02 06:21

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 (NYSE:TWTR) 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 company said it has engaged Moelis (NYSE:MC) & Co. and the Consello Group as financial advisers, and Kirkland & Ellis as legal advisers.

07/02/2022

1 minute read