The U.S.-based firm, one of a handful of crypto companies listed on the Toronto Stock Exchange, reduced the limit from US$25,000 to US$10,000, a day after disclosing exposure to troubled crypto hedge fund Three Arrows Capital. (The Logic, Reuters)
Talking point: Fears of insolvency and market contagion have been spreading through the sector after crypto-lending startup Celsius suspended customer withdrawals in order to meet creditors’ obligations. Voyager’s exposure to Three Arrows Capital, a major crypto hedge fund that has hired advisors to explore paths forward after suffering huge losses, could make it difficult to recover much of the customer funds it had lent out. The company’s stock fell by roughly half yesterday as it disclosed its connection to Three Arrows Capital.