Wednesday, August 17, 2022
  • About
  • Privacy Policy
  • Editorial Principles
  • Why to trust us
  • Contact
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
No Result
View All Result
Scoop Nova
Home Technology

Voyager Digital suspends all trading, deposits, and withdrawals

admin by admin
July 2, 2022
in Technology
0
Crypto firms say thousands of digital currencies will collapse
587
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

You might also like

Curio, led by Energy Dept. veteran, aims to recycle nuclear waste

SoftBank-backed Ola Electric wants to launch India-built EV in 2024

Cloud stocks rise as investors see resilience in Q2 2022 results

With over 19,000 cryptocurrencies, the cryptocurrency industry likens the market to the early days of the Internet. However, industry players have said that most of these coins will collapse.

Nurphoto | Getty Images

Digital Asset Brokerage Voyager Digital has suspended all client transactions, deposits, withdrawals, and loyalty rewards. According to the statement Released on Friday afternoon..

Stephen Erich, CEO of lending company Voyager, said:

Erlich further said that this decision aims to give the company additional time to continue “investigating strategic alternatives with various stakeholders” and to provide additional information “at the right time”. Said to provide.

Voyager’s announcement is in the midst of numerous margin claims and defaults across the sector, making digital brokers the latest incidental damage to the widespread market sale of cryptocurrencies. The two most widely traded cryptocurrencies, Bitcoin and Ether, have fallen by more than 70% from their peak in November last year, and the May collapse of UST Stablecoin is already in a turbulent market. I sent a shock wave.

The news came a few days after one of Voyager’s customers failed to pay a loan worth hundreds of millions of dollars, raising concerns about the contagious effects of bankruptcy across the industry.

Monday, broker Issued a notification Its prominent crypto hedge fund, Three Arrows Capital (3AC), has defaulted on loans worth more than $ 670 million. At that time, Voyager said it would pursue recovery from 3AC, while continuing to execute and fulfill customer orders and withdrawals.

As of June 24, Voyager said it owns about $ 137 million in US dollars and owns crypto assets. The company also has access to a $ 200 million credit line in cash and USDC stable coins, as well as 15,000 Bitcoins ($ 318 million) from FTX founder Sam Bankman-Fried’s quantitative trading company Alameda Ventures. I also noticed that I can access the revolving credit line of).

last weekAlameda has funded Voyager $ 500 million and the company has already withdrawn $ 75 million from its credit line, but it seems insufficient to continue its business as usual.

So far, the two largest crypto investors in the world by market capitalization seem to be unaffected by the news. Bitcoin Increased by about 2% Ethereum It has risen by more than 4% towards the end of normal market time on Wall Street.

Voyager is a competitor to crypto lender BlockFi and is also involved in the crosshairs of the recent liquidity crisis in the sector. FTX has just signed a $ 680 million credit agreement to acquire BlockFi. According to the block..

Voyager’s decision tracks the decision of Celsius, a popular cryptocurrency staking and lending platform. Paused all withdrawals as well, Swaps, and transfers between accounts due to “extreme market conditions” on June 13. Celsius has not yet released specific guidance on the next steps.

Tags: BitcoinBitcoin / USD Coin MetricsBusiness newsCryptocurrencydepositsDigitalenergyEthereum / USD Coin MetricsFinTechsuspendstechnologytradingVoyagerwithdrawals
Previous Post

Chinese company's purchase of North Dakota farmland raises U.S. security concerns

Next Post

Fourth of July travel surge puts airlines — and passengers — to the test

admin

admin

Related Posts

Curio, led by Energy Dept. veteran, aims to recycle nuclear waste
Technology

Curio, led by Energy Dept. veteran, aims to recycle nuclear waste

by admin
August 17, 2022
SoftBank-backed Ola Electric wants to launch India-built EV in 2024
Technology

SoftBank-backed Ola Electric wants to launch India-built EV in 2024

by admin
August 16, 2022
Cloud stocks rise as investors see resilience in Q2 2022 results
Technology

Cloud stocks rise as investors see resilience in Q2 2022 results

by admin
August 13, 2022
How to pick the right MacBook
Technology

How to pick the right MacBook

by admin
August 12, 2022
Hackers steal $100 million in crypto from Harmony’s Horizon bridge
Technology

Ether (ETH) price surges after ethereum completes final testnet merge

by admin
August 11, 2022
Next Post
Fourth of July travel surge puts airlines — and passengers — to the test

Fourth of July travel surge puts airlines — and passengers — to the test

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airbus sets up UK facility to focus on hydrogen tech for aircraft

Airbus sets up UK facility to focus on hydrogen tech for aircraft

May 27, 2022
Elon Musk clarifies Tesla layoffs after ex-employees sue company

Elon Musk clarifies Tesla layoffs after ex-employees sue company

June 22, 2022

Categories

  • Business
  • Politics
  • Scandal
  • Scandals
  • Technology
  • Uncategorized

Don't miss it

Rep. Liz Cheney loses GOP primary to Trump-backed challenger, NBC projects
Politics

Rep. Liz Cheney loses GOP primary to Trump-backed challenger, NBC projects

August 17, 2022
This tiny, profitable luxury automaker can withstand a recession
Business

This tiny, profitable luxury automaker can withstand a recession

August 17, 2022
Curio, led by Energy Dept. veteran, aims to recycle nuclear waste
Technology

Curio, led by Energy Dept. veteran, aims to recycle nuclear waste

August 17, 2022
When to buy Tesla stock, according to tech investor Paul Meeks
Business

When to buy Tesla stock, according to tech investor Paul Meeks

August 16, 2022
SoftBank-backed Ola Electric wants to launch India-built EV in 2024
Technology

SoftBank-backed Ola Electric wants to launch India-built EV in 2024

August 16, 2022
House passes massive climate, tax and health bill
Politics

House passes massive climate, tax and health bill

August 14, 2022
Scoop Nova

Scoop Nova is the only worldwide news organization with a European perspective, and it’s where the rest of the world goes to hear what the World has to say.

Categories

  • Business
  • Technology
  • Scandals
  • Politics

Quick Links

  • About Scoop Nova
  • Contact us
  • Editorial Principles
  • Why to trust us
  • Privacy Policy
  • Sitemap

Recent News

Rep. Liz Cheney loses GOP primary to Trump-backed challenger, NBC projects

Rep. Liz Cheney loses GOP primary to Trump-backed challenger, NBC projects

August 17, 2022
This tiny, profitable luxury automaker can withstand a recession

This tiny, profitable luxury automaker can withstand a recession

August 17, 2022

© Copyright 2022 ! All rights are reserved by scoopnova.com

  • Home
  • Business
  • Technology
  • Scandals
  • Politics

© Copyright 2022 ! All rights are reserved by scoopnova.com