Cryptocurrency exchange Voyager Digital announced on Friday that it has temporarily suspended trading, deposits, withdrawals and member rewards. “The failure of the borrower Three Arrows Capital to repay the large amount of our loan from us. Make this the right path,” Voyager Digital CEO Stephen Ehrlich said on Twitter shortly after the service suspension went into effect.
“This decision, although far from appropriate. But it will give us time to work to strengthen the balance sheet. This is a necessary condition to protect assets and secure the future of the platform we build together,” Ehrlich continued, in a statement released by the company.saidMoelis & Co. and Consello Group were hired as financial advisors and Kirkland & Ellis as legal advisors.
Voyager Digital issued a notice of default for Three Arrows Capital, known as 3AC, on Wednesday afterWhere Singapore Crypto Hedge Fund Fails to Repay Loanamount 15,250 Bitcoin ( BTC ) and 350 million USDC
Voyager Digital does not specify when trading, deposit, withdrawal and user reward services will be restored.
Voyager Digital has announced that it will stop trading and withdrawing as a result of 3AC default on its loan payments appeared first on Bitcoin Addict.