Voyager Digital Suspends Withdrawals; Shares Fall Over 30%

Voyager Digital (TSE: VOYG) (VYGVF) develops and commercializes a digital platform that focuses on enabling users to Buy and Sell digital assets, such as cryptocurrencies. The company has been going through a very difficult time following the fall of the cryptocurrency market. It was facing liquidity issues after one of its clients, crypto hedge fund Three Arrows Capital, defaulted on a loan worth over $650 million (at current bitcoin price levels). Specifically, the loan comprised 15,250 bitcoins (BTC-USD) and $350 million USDC. Indeed, crypto billionaire Sam Bankman-Fried, who has become the crypto world's lender of last resort, had to bail out Voyager Digital.