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Distressed Crypto Broker Voyager Sets Limits on Withdrawals

·Lesedauer: 1 Min.

(Bloomberg) -- Crypto brokerage firm Voyager Digital Ltd. is limiting customer withdrawals from its platform to $10,000 and to 20 transactions during a 24-hour period.

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The New York-based firm, which secured $485 million in loans in the past week from Alameda Research to shore up protection for customer assets, announced the limits on its website. The firm secured the funding after disclosing its exposure to the troubled crypto hedge fund Three Arrows Capital Ltd.

Voyager is among the crypto platforms that have faced liquidity issues in the wake of this year’s collapse in the prices of cryptocurrencies. Celsius Network and Bable Finance both recently froze withdrawals.

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