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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.
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.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
