After reducing its withdrawal limit last week, Voyager Digital, a U.S.-based crypto lender whose shares trade on the Toronto Stock Exchange, froze withdrawals entirely and said it was pursuing “strategic alternatives.” Vauld, a similar Singapore-based platform backed by Coinbase, also said it was suspending withdrawals. (The Logic)

Talking point: The move by Voyager continues a volatile period for the company, whose stock rose significantly last week after a court ordered Three Arrows Capital, a hedge fund to whom Voyager had issued a notice of default, to liquidate. On Monday, Voyager’s shares were down roughly 30 per cent. (Though it suspended withdrawals Friday, its shares weren’t trading on Canada Day.) Vauld and Voyager’s announcements, which come after similar measures by Celsius Network and BlockFi, further underscore how swiftly financial contagion has swept through the crypto sector as lenders struggle with a downturn. Meanwhile, in yet another crypto casualty, tech giant Meta said it’s shutting down the crypto wallet it launched in October.