Voyager Digital freezes trading, deposits, withdrawals and rewards, blames 3AC default
Cointelegraph
Published Jul 01, 2022 04:43PM ET
Updated Jul 03, 2022 07:00PM ET
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.
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Written By: Cointelegraph
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