With more than 19,000 virtual currencies in existence, the cryptocurrency industry has likened the current state of the market to the early years of the internet. Industry players said however that most of these coins will collapse.
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Digital asset brokerage Voyager Digital has paused all customer trading, deposits, withdrawals and loyalty rewards, according to a statement released Friday afternoon.
“This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” said Stephen Ehrlich, CEO of lending company Voyager.
Erlich went on to say that the decision is designed to give the firm additional time to continue “exploring strategic alternatives with various interested parties” and that they will provide additional information at “the appropriate time.”
Voyager’s announcement comes amid a raft of margin calls and defaults across the sector, making the digital broker the latest collateral damage of the broad market...
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