Crypto dealer Voyager Virtual lowers day-to-day withdrawal limits to $10,000

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June 23 (Reuters) – Crypto dealer Voyager Virtual Ltd has reduced its day-to-day withdrawal limits to $10,000 from $25,000, in step with an replace at the corporate’s web page.

The alternate comes after the corporate on Wednesday stated its subsidiary might factor a default understand to 3 Arrows Capital Ltd if the cryptocurrency hedge fund fails to pay off its mortgage.

Voyager didn’t right away reply to a request for remark.

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Voyager’s overall publicity to 3 Arrows Capital is composed of 15,250 bitcoin (just about $310 million) and $350 million USD Coin (USDC), it stated. learn extra

The New Jersey-based corporate stated it had to start with requested for compensation of $25 million USDC by means of June 24, and later asked that all the quantity be repaid by means of June 27. On the other hand, neither of the ones had been repaid, Voyager stated.

Voyager may be discussing criminal treatments to be had to recuperate the quantity from the hedge fund, it stated.

Previous this month, Voyager signed an settlement with Alameda Ventures Ltd for a revolving line of credit score, in the hunt for get entry to to further capital to satisfy its consumers’ liquidity wishes as crypto costs take a success.

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Reporting by means of Hannah Lang in Washington; Enhancing by means of Mark Porter and Bernadette Baum

Our Requirements: The Thomson Reuters Accept as true with Ideas.

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