Seeking Alpha
2022-06-23 14:50:34

Voyager Digital slashes daily withdrawal limit to $10K in wake of Three Arrows Capital exposure

Cryptocurrency broker Voyager Digital (OTCQX:VYGVF) has cut its daily withdrawal limit to $10K from $25K in a move that shortly followed its disclosure of more than $660M exposed to troubled crypto-focused hedge funds Three Arrows Capital. The update to the withdrawal limit was made 15 hours ago as of the time of writing. Shares of Voyager Digital (OTCQX:VYGVF) plunged roughly 60% to its lowest since June 2020 after revealing its loan exposure to 3AC on Wednesday, though the stock is seeing some relief in Thursday morning trading, bouncing around 17% as of shortly before 11:00 a.m. ET. Voyager Digital (OTCQX:VYGVF) isn't the only crypto firm that's been impacted by turbulent market conditions. Crypto lenders Celsius and Babel Finance both recently suspended client withdrawals. Previously, (June 13) Binance, the world's largest crypto exchange, briefly halted bitcoin withdrawals.

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