Voyager Digital Cuts Daily Withdrawal Limit to $10K Amid 3AC Exposure

The decision comes off the back of a heavy decline in the Voyager share price on Wednesday.

AccessTimeIconJun 23, 2022 at 1:27 p.m. UTC
Updated Jun 23, 2022 at 7:30 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Cryptocurrency broker Voyager Digital reduced its daily withdrawal limit to $10,000 from $25,000 after detailing its exposure to struggling hedge fund Three Arrows Capital earlier this week.

  • According to Voyager's website, an update to the withdrawal limit was made at 23:00 UTC on Wednesday.
  • Voyager shares (VOYG) plunged by more than 60% Wednesday after the company said it had an aggregated exposure of $720 million to Three Arrows Capital in the form of stablecoins and bitcoin.
  • Voyager appears to be the latest in a string of crypto companies hit by the recent market downturn, lending platforms Celsius Network and Finblox have both halted withdrawals over the course of the month.

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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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