Crypto Broker Voyager Digital Temporarily Suspends Trading, Withdrawals and Deposits

Following Celsius​, another crypto platform Voyager Digital (VYGVF) also "temporarily" suspended all trading, deposits, withdrawals and loyalty rewards, effective as of 2 p.m. ET on Friday. Even the Voyager-issued debit card will stop working for owners.

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"This was a tremendously difficult decision, but we believe it is the right one given current market conditions," Voyager CEO Stephen Ehrlich said in a statement. "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."

Last month, leading cryptocurrency lending platform Celsius made an abrupt announcement, claiming the suspension of all user withdrawals, swaps and transfers, citing "extreme market conditions".

The changes made by Voyager were said to be related to its exposure to Three Arrows Capital (3AC), which is alleged to have failed to make require payments on Voyager's loan of 15,250 BTC ($294 million) and $350 million USDC. The crypto broker is considering all options including a court-ordered liquidation process in the British Virgin Islands to pursue available remedies for recovery from 3AC.