U.S. markets close in 1 hour 22 minutes
  • S&P 500

    3,821.04
    -0.51 (-0.01%)
     
  • Dow 30

    31,078.81
    +131.82 (+0.43%)
     
  • Nasdaq

    11,168.54
    -13.00 (-0.12%)
     
  • Russell 2000

    1,717.89
    -20.96 (-1.21%)
     
  • Crude Oil

    109.84
    -1.92 (-1.72%)
     
  • Gold

    1,819.70
    -1.50 (-0.08%)
     
  • Silver

    20.78
    -0.09 (-0.42%)
     
  • EUR/USD

    1.0445
    -0.0080 (-0.76%)
     
  • 10-Yr Bond

    3.1120
    -0.0940 (-2.93%)
     
  • GBP/USD

    1.2128
    -0.0057 (-0.47%)
     
  • USD/JPY

    136.5200
    +0.3920 (+0.29%)
     
  • BTC-USD

    20,066.15
    -239.29 (-1.18%)
     
  • CMC Crypto 200

    432.35
    -7.31 (-1.66%)
     
  • FTSE 100

    7,312.32
    -11.09 (-0.15%)
     
  • Nikkei 225

    26,804.60
    -244.87 (-0.91%)
     

Amid 3AC exposure, Voyager Digital cuts daily withdrawal limit

·1 min read

A day after Voyager Digital disclosed its exposure to crypto hedge fund Three Arrows Capital (3AC), it slashed daily withdrawal limits to US$10,000 from US$25,000.

See related article: Sam Bankman-Fried steps in to bail out BlockFi

Fast facts

  • On Wednesday, crypto trading platform Voyager said it had loaned over US$650 million worth of USDC and Bitcoin to 3AC which the latter might be unable to pay back.

  • Voyager said it would issue a notice of default if 3AC fails to repay US$25 million worth of USDC by Friday and the rest of the loan by June 27.

  • Although Voyager said it will pursue recovery of the funds, it is yet to determine how much of the money can be recovered from 3AC.

  • 3AC stands the risk of going bankrupt after failing to pay back several large loans in the past few weeks.

See related article: SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports