Voyager Digital Pauses Withdrawals and Other Services

Voyager Terminates Most of its Services

Voyager said that it would temporarily halt trading, deposits, withdrawals, and loyalty awards in a blog post. Additionally, this will stop customers from using their Voyager debit cards. On Voyager's app, users can still view market data. The business will also provide reward payments for June and intends to do so again in July. Voyager didn't say when it would resume offering its customers services. As an alternative, it stated that it is "not in a position to disclose anything additional today" and "hopes to have more to share shortly."

Voyager Secured Loan Last Week

The firm Secured Loan Voyager Digital has been working to stay solvent amid the global crypto liquidity crisis that began in June. On June 22, Sam Bankman-Alameda Fried's Research granted Voyager a loan totaling more than $500 million in cash and digital currency. The purpose of that financing was to take the place of money provided by Three Arrows Capital, which missed a payment on a $665 million loan last week. Voyager stated today that it is still trying to recoup 3AC's loan through the British Virgin Islands legal system. Voyager is not the only business that has suspended operations recently. On June 13, the first cryptocurrency company to halt withdrawals was Celsius. In recent weeks, similar actions have been taken by other businesses like CoinFLEX and Babel Finance.