Effective immediately, Voyager Digital has suspended all activity, including trading, deposits, withdrawals, and rewards. The company’s ייַנטיילן פּרייַז fell 38% following the news, while its native token ווגקס איז אַראָפּ 9%.
While trading on the platform is currently unavailable, over 25% of the trading volume for VGX occurs on Binance. At the time of writing, the token is still tradeable on Binance, Coinbase, FTX, and others.
Voyager לעצטנס באקומען $200 million and 15k BTC from Alameda Research to help stabilize its liquidity and cover its exposure to Three Arrows Capital. The deal resulted in FTX CEO Sam Bankman-Fried taking an 11% אָונערשיפּ in Voyager Digital.
The average share price of SBF’s holdings at the time of the SEPA filing on June 17 was $2.34, with the share price now down below $0.40. However, documents filed on June 23 indicate that Alameda Ventures surrendered 4.5 million shares, reducing its ownership below 10%.
Voyager’s decision to halt trading will ring alarm bells for investors following the recent string of issues the exchange has faced. In a press release issued Friday, the CEO of Voyager, סטעפאן ערליך, מודיע
"דאָס איז געווען אַ זייער שווער באַשלוס, אָבער מיר גלויבן אַז דאָס איז די רעכט באַשלוס אין די קראַנט מאַרק טנאָים. דער באַשלוס גיט אונדז נאָך צייט צו פאָרזעצן צו ויספאָרשן סטראַטידזשיק אַלטערנאַטיוועס מיט פאַרשידן אינטערעסירט פּאַרטיעס בשעת פּראַזערווינג די ווערט פון די Voyager פּלאַטפאָרמע וואָס מיר האָבן געבויט צוזאַמען. מיר וועלן צושטעלן נאָך אינפֿאָרמאַציע אין די צונעמען צייט. ”
In an act of full transparency required by Canadian law, Voyager posted details of its balance sheet as of June 30.
Crypto assets – $685,373,000
Crypto assets loaned – $1,124,825,000
Cash held for customers – $355,725,000
Crypto collateral received/ held – $168,685,000
To “support its exploration of strategic alternatives,” Voyager has hired Moelis & Company and The Consello Group as financial advisors and Kirkland & Ellis LLP as legal advisors. The additional support will likely be used to establish whether its business is still commercially viable going forward.
Unlike other exchanges such as Celsius and BlockFi, Voyager is a publicly tradeable company in Canada. It, therefore, has a fiduciary responsibility to release timely updates on factors that may affect investors’ holdings. The share price recovered slightly after slipping 38% and is trading at $0.31 at the time of press.
Source: https://cryptoslate.com/voyager-digital-suspends-trading-deposits-withdrawals-stock-drops-38/