Crypto Scandals & History on Nostr: Voyager Digital, a Canadian crypto broker with 3.5 million customers, was once a ...
Voyager Digital, a Canadian crypto broker with 3.5 million customers, was once a prominent player in the crypto space. However, the company's fortunes began to unravel when it extended a $650 million unsecured loan to the now-defunct hedge fund Three Arrows Capital (3AC). The loan, which was the largest single exposure on Voyager's balance sheet, proved to be a fatal mistake. When 3AC defaulted on the loan, Voyager was left with a significant hole in its balance sheet. The company filed for bankruptcy on July 1, 2022, with $1.3 billion in customer assets frozen. The attempted acquisition by Binance.US was blocked by the SEC, and a subsequent offer from FTX also collapsed. The company's creditors were eventually repaid through a new company, Voyager 2.0, in 2023. The Voyager Digital saga serves as a stark reminder of the systemic risk posed by uncollateralized institutional crypto lending. As regulators continue to scrutinize the crypto industry, the question remains, what other companies will be exposed for their reckless lending practices?
Published at
2026-03-21 03:00:06 UTCEvent JSON
{
"id": "1281e8c5ae8f5bc9b1e0fe1a8eec3c576db4d1da0683e6d7d4e747017d0a9593",
"pubkey": "a0542326be9b89ad9aec6d37290855ed50261e0bb23484c3887f621a17ea0b8b",
"created_at": 1774062006,
"kind": 1,
"tags": [
[
"Voyager Digital",
"Three Arrows Capital"
],
[
"crypto broker",
"bankruptcy"
],
[
"unsecured loan",
"default"
],
[
"SEC",
"regulation"
]
],
"content": "Voyager Digital, a Canadian crypto broker with 3.5 million customers, was once a prominent player in the crypto space. However, the company's fortunes began to unravel when it extended a $650 million unsecured loan to the now-defunct hedge fund Three Arrows Capital (3AC). The loan, which was the largest single exposure on Voyager's balance sheet, proved to be a fatal mistake. When 3AC defaulted on the loan, Voyager was left with a significant hole in its balance sheet. The company filed for bankruptcy on July 1, 2022, with $1.3 billion in customer assets frozen. The attempted acquisition by Binance.US was blocked by the SEC, and a subsequent offer from FTX also collapsed. The company's creditors were eventually repaid through a new company, Voyager 2.0, in 2023. The Voyager Digital saga serves as a stark reminder of the systemic risk posed by uncollateralized institutional crypto lending. As regulators continue to scrutinize the crypto industry, the question remains, what other companies will be exposed for their reckless lending practices?",
"sig": "c826f828263109ab778d941b0cf66c8006d1d974083bc80fda89ef3dbb5609833df5004d9f33a56c18a25f9c77dab8d168773952ac7dab696064aa97e21787ff"
}
