3 July, San Francisco (IANS) The major cryptocurrency hedge fund Three Arrows Capital (3AC),

[{"selector":"#anim-7c820288-fee0-4d12-88ec-d5f3fc040b62 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

in which Voyager has made sizeable investments, filed for bankruptcy in the US, and as a result,

[{"selector":"#anim-268c9575-41fd-4c78-9ff7-6f82ec3d6ab5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

the cryptocurrency broker Voyager Digital (VYGVF) has ceased all trading, deposits, withdrawals, and loyalty incentives.

[{"selector":"#anim-12fd1df7-ffc2-4627-bce1-d3e80d509c3d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

In a statement, Voyager acknowledged that it had substantial holdings in 3AC and

[{"selector":"#anim-8464543e-f83f-4705-b4d6-9b50dec15caa [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

that the Singapore-based hedge fund had defaulted on payments due on a loan of 15,250 BTC ($294 million) and $350 million USDC.

[{"selector":"#anim-75534402-b051-4e3e-98b2-4e2bcd6635e1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

According to Stephen Ehrlich, CEO of Voyager, "This was a very tough choice,

[{"selector":"#anim-cac03733-88ae-4a2c-9e73-9d6181b14172 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

but we believe it is the appropriate one given present market conditions."

[{"selector":"#anim-8652323a-c69a-46d0-b808-0c2bdaf73f2c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

"This choice allows us more time to continue discussing strategic options with different interested parties...

[{"selector":"#anim-b5a1f896-d621-4efe-ae30-46e5fa244035 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

while retaining the worth of the Voyager platform that we have jointly developed. At the proper time, we will supply further information "Added he.

[{"selector":"#anim-f701b97e-b5db-4261-8cf4-b8695280a874 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The price of Voyager stock fell by more than 26%.

[{"selector":"#anim-f915f972-baee-4269-ae45-87a3ba4fc1d2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Voyager stated that it is currently pursuing all available recovery options from 3AC,

[{"selector":"#anim-de07998a-3058-4aff-8636-70de4504a6f7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

including the British Virgin Islands' court-ordered liquidation procedure.

[{"selector":"#anim-20fb3f83-1945-4368-a324-bd205b562226 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.0658141036401503e-14%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]