Voyager Digital halts all trading services

In light of the current cryptocurrency market conditions, digital asset brokerage Voyager Digital has made the decision to temporarily suspend customer trading.


The brokerage issued a statement last Friday, shortly after a default of $670 million.

Voyager Digital
Voyager Digital paused all trading. Source: Adobe Stock.

Voyager Digital, a digital asset brokerage company, has suspended all services indefinitely according to a statement released last Friday. Stephen Ehrlich, the company’s CEO, said he believes it’s a tough decision to make. However, it’s the right thing to do given the current crypto market conditions. 

The CEO said that pausing all trading, deposits and withdrawals will give Voyager Digital more time to explore different strategies with the help of a series of interested parties. Although the news came as a shock to most of its clients, details were few. Erlich went on to say Voyager Digital will give out more information at a more appropriate time. 

For crypto experts, the announcement is not a big surprise. Voyager’s decision to halt all trading comes amid a surge in defaults and margin calls across the market. Unfortunately, the brokerage company is just the latest collateral damage in a series of market sell offs in the cryptocurrency world. 

Bitcoin and ether – the two most popular digital currencies – are experiencing new lows since their all-time highs in November 2021. The collapse of stablecoin terra and its sister token luna last may also disrupt an already volatile market. 

The news about Voyager Digital’s suspensions comes just a few days after the company reported that one of its customers failed to repay a loan worth millions of dollars. The situation served to stoke the fire of investors’ concern about a possible insolvency contagion that might be infecting the entire industry. 

No amount of assets can keep Voyager Digital afloat

Voyager Digital
Even with a huge amount of assets, Voyager chose to pause withdrawals. Source: Adobe Stock.

Last Monday, Voyager Digital made the news after issuing a notice that a loan of over $670 million was defaulted by a crypto hedge fund called Three Arrows Capital. At the time, the company said it would pursue reparation from 3AC. It also reassured its clients that it would continue to maintain customer orders and withdrawals. 

In the last week of June, Voyager Digital said it had close to $137 million between U.S. currency and crypto. The brokerage firm also said it could access over $200 million in cash from a credit line and USDC (a stablecoin). Voyager also had 15,000 bitcoin – which is worth approximately $318 million – in a revolving credit line from FTX’s Sam Bankman-Fried’s quantitative trading firm Alameda Ventures. 

Earlier last week, Voyager Digital received an aid from Alameda Ventures, which committed $500 million in order to finance the brokerage firm. According to a Voyager data release, the company’s already used $75 million from the credit line. However, it appears that Alameda’s funding wasn’t enough to keep Voyager Digital on business for now. 

So far, crypto investors who focus primarily on bitcoin and ether seem unbothered by the news surrounding Voyager Digital.  As of Friday, bitcoin was up by 2% while ethereum made a 4% recovery.

Voyager Digital’s main contender, BlockFi, has also been caught off guard in the current market turmoil. According to The Block, Sam Bankman-Fried exchange FTX just closed a $680 million deal to acquire BlockFi at a “great discount”. 

Voyager Digital’s decision to suspend all trading is very similar to what the lending crypto platform Celsius did earlier this month. Back on June 13, the firm also suspended all transfers, swap and withdrawals between accounts. The reasoning behind it is also the current market conditions. Just as Voyager, Celsius still has yet to present a solution of what’s going to do next. 

Is FTX acquiring Robinhood Investing?

But not all is lost in the crypto world as it seems Sam Bankman-Fried is on a shopping spree. After acquiring BlockFi, will Robinhood be next? Follow the link below to find out.


FTX exchange might acquire Robinhood Investing

After acquiring BlockFi, the exchange firm FTX might be on its way to buy another trading firm: Robinhood Investing. Read on for more!

Trending Topics


Discover it® Miles credit card full review

Check our Discover it® Miles credit card review and learn more about a card that offers many travel perks and charges no annual fee!

Keep Reading

R.I.A. Federal Credit Union Mastercard® Rewards Card review

Are you ready to get 1.5% cash back on purchases? Then keep reading our R.I.A. Federal Credit Union Mastercard® Rewards Card full review!

Keep Reading

OnPoint Community Credit Union HELOC: apply now

Get rate discount and fast funding. Apply for the OnPoint Community Credit Union HELOC and achieve your full potential! Read on and learn!

Keep Reading

You may also like


ELFI Student Loan: how to apply now!

Applying for an ELFI Student Loan is easy! Enjoy low rates and several benefits. Keep reading and learn more!

Keep Reading

Apply for The Credit People: credit recovery made simple

The Credit People is a great option to restore your name in the financial market. Learn how to apply for The Credit People and succeed.

Keep Reading

Universal Credit Personal Loans: how to apply now!

Apply for Universal Credit Personal Loans today and ensure the money you need! Borrow up to $50K with affordable conditions! Read on!

Keep Reading