Crypto broker Voyager Digital lowers daily withdrawal limits to $10,000

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By Hannah Lang

(Reuters) – Crypto broker Voyager Digital Ltd has lowered its daily withdrawal limits to $10,000 from $25,000, according to an update on the company’s website.

The change comes after the company said on Wednesday that its subsidiary could issue a notice of default to Three Arrows Capital Ltd if the cryptocurrency hedge fund fails to repay its loan.

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Voyager did not immediately respond to a request for comment.

Voyager’s total exposure to Three Arrows Capital consists of 15,250 bitcoins (nearly $310 million) and US$350 million in coins (USDC), he said.

The New Jersey-based company said it originally requested the USDC$25 million refund by June 24, then requested that the full amount be refunded by June 27. However, none of these have been reimbursed, Voyager said.

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Voyager is also discussing the legal remedies available to recover the amount from the hedge fund, he said.

Earlier this month, Voyager signed an agreement https://www.prnewswire.com/news-releases/voyager-digital-provides-market-update-301572971.html with Alameda Ventures Ltd for a revolving line of credit, seeking access to capital to meet the liquidity needs of its clients as crypto prices take a hit.

(Reporting by Hannah Lang in Washington; Editing by Mark Porter and Bernadette Baum)

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