Artificial IntelligenceCryptocurrencyMetaverseCybersecurityTech Forward

Crypto broker Voyager Digital slashes daily withdrawal limit to $10,000 from $25,000

June 23, 2022, 1:58 PM UTC

Cryptocurrency broker Voyager Digital reduced its daily withdrawal limit to $10,000 from $25,000 after detailing its exposure to struggling hedge fund Three Arrows Capital earlier this week.

  • According to Voyager’s website, an update to the withdrawal limit was made at 23:00 UTC on Wednesday.
  • Voyager shares (VOYG) plunged by more than 60% yesterday after the company said it had an aggregated exposure of $720 million to Three Arrows Capital in the form of stablecoins and bitcoin.
  • Voyager appears to be the latest in a string of crypto companies hit by the recent market downturn, lending platforms Celsius Network and Finblox have both halted withdrawals over the course of the month.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.