Behind Voyager’s Fall: Crypto Broker Acted Like a Bank, Went Bankrupt
— Fall, Withdrawals, Acted, Crypto, Trading, Bank, Smoothly, Broker, Platform, Customer — 1 min read
On July 1, Voyager froze all customer withdrawals and trading to “avoid irreparable damage to the Debtors’ business’s business and ensure that its trading platform operated smoothly for all customers.” Ehrlich: “Not being able to withdraw, it must be noted, seems in itself like less than smooth operation.” As the market continued to fall, Voyager's situation grew ever bleaker. The company says it is trying to avoid “irreparable damage” to its business and “ensure that all customers’ trading platforms operate smoothly” for customers. The company is now in the process of withdrawing from the market and liquidating its stock market, according to the company. Source