Cryptocurrency News

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

07/02/2022

1 minute read

2022.07.02 06:21

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

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

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