Cryptocurrency broker Voyager Digital has lowered its daily withdrawal limits for users as the firm is preparing that its subsidiary may issue a default notice to Three Arrows Capital (3AC), Reuters reports.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
From now on, users can only withdraw up to $10,000 instead of $25,000 on a daily basis. Reuters says Voyager’s total exposure to 3AC includes 15,250 bitcoin (EXANTE: Bitcoin) and $350 million USDC.
Voyager said it had asked 3AC for repayment by June 27, but hasn’t yet received any response so far. The crypto broker is also reportedly seeking legal remedies.
The Singapore-based hedge reportedly began ghosting its business partners shortly after it had failed to meet commitments to its clients and faced liquidations amid the market crash.
Access more than 50 of the world’s financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange