Just one tendril of the crypto meltdownThe Voyager Digital app is visible on an iPhone screen on July 1 in San Anselmo, California. (Photo: AFP)Voyager Digital, a major cryptocurrency investment firm, declared bankruptcy on July 6 after crypto hedge fund Three Arrow Capital (3AC) defaulted on a US$650 million loan. Voyager Digital is a crypto lender that has multiple services, such as cryptocurrency or fiat currency deposits that provide high interest rates and loans. Large funds like 3AC have filed for bankruptcy and defaulted on their loans, including the $650 million loan from Voyager. Stephen Ehrlich, chief executive of Voyager, vowed the company will continue to operate despite the bankruptcy.

Source: Bangkok Post July 08, 2022 01:13 UTC