Voyager suspended trading and withdrawals

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Voyagers,

Today we made the difficult decision to temporarily suspend trading, deposits, withdrawals, and loyalty rewards. The app will be down for a short transition period. After that, you will still be able to view market data and track your portfolio, and you will receive rewards payments for the month of June.

We understand the significant impact of this decision, which is why we tried hard to avoid it—including by securing a credit facility from Alameda Ventures and lowering daily withdrawal limits. But the failure of a borrower, Three Arrows Capital (3AC), to repay a substantial loan from us means this was the right path forward. Voyager is actively pursuing all available remedies for recovery from 3AC, including through the court-ordered liquidation process in the British Virgin Islands.

As a result—while far from optimal—this decision gives us time to strengthen our balance sheet, a necessary condition to protect assets and preserve the future of the Voyager platform we have built together. We are exploring a number of options and hope to have more to share soon.

submitted by /u/Zealousideal_Ad5995
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