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Voyager Digital has Frozen All Accounts Ability to Deposit, Withdraw, or Transfer
Summary: As of 2 PM EST, crypto tech platform Voyager Global has frozen all accounts after disclosing over a $650 million exposure to Three Arrows Capital last week. Three Arrows Capital recently imploded after the investment firm received multiple margin calls with no liquidity to cover. In a recent update, Stephen Ehrlich, Chief Executive Officer of ...
As of 2 PM EST, crypto tech platform Voyager Global has frozen all accounts after disclosing over a $650 million exposure to Three Arrows Capital last week. Three Arrows Capital recently imploded after the investment firm received multiple margin calls with no liquidity to cover.
In a recent update, Stephen Ehrlich, Chief Executive Officer of Voyager, said, "This was a tremendously difficult decision, but we believe it is the right one given current market conditions." "This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together. We will provide additional information at the appropriate time."
Voyager issued a notice of default to hedge fund Three Arrows Capital following failed repayment of a $650 million loan. $350 million USDC and 15,250 BTC made up the loan.
The article published by Voyager also gave critical updates to their balance sheet, including the current assets they have loaned and current liquid cash, stablecoin, and BTC.
Although they referred to the suspension of account activity as "temporary," the company has not speculated when withdrawals will be resumed.
Author: Garrett Meifert
Tags: Bitcoin,Three Arrows Capital,USDC,Voyager Digital
Link: Voyager Digital has Frozen All Accounts Ability to Deposit, Withdraw, or Transfer [Copy]
