According to reports, the TSX-listed Voyager Digital is another company that has been negatively affected by financial issues tied to the crypto hedge fund Three Arrows Capital (3AC). In a letter to investors, Voyager’s management explained that 3AC potentially defaulted on a $655 million loan and it hopes to obtain some of the funds by the end of this month.
The Three Arrows Contagion: 3AC Owes $655 Million to Voyager Digital — Management Has Set a Repayment Date
3AC’s financial hardships have seemingly started a contagion throughout the crypto industry and while a number of firms said they were safe, others explained they were suffering from the fallout. For instance, a company backed by 3AC called Finblox detailed on June 16 that it had to pause rewards (up to 90% APY) for all of its users, and the platform upped withdrawal limits as well. This week, the publicly listed crypto company Voyager Digital revealed it was dealing with issues tied to 3AC.
In a letter sent to Voyager’s...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...