Voyager Digital Says All Customer Assets Have Been Removed From Celsius

Voyager Digital Says All Customer Assets Have Been Removed From Celsius

June 15, 2022 Off By Roland Guirdonan

Voyager Digital, a former key arm fund-type partner with Celsius, revealed that it has already withdrew 100% of its customer assets from the platform.

The announcement follows Celsius’ previous news that it had suspended withdrawals, raising suspicions that the company had gone bankrupt.

According to the press statement, the company’s decision to leave Celsius was motivated by “due diligence and risk management processes.” In an interview on June 13, Voyager Digital CEO Steve Erlich stated that the company’s partnership with Celsius ended “a while ago.”

In addition, he notes, “Our customers’ assets are safe and we are processing everything as normal.”

Voyager is a publicly traded corporation that is subject to compliance and regulatory requirements. The Canadian company’s market capitalisation was $1.8 billion at the start of the year. It is now worth $300 million.

The company has lost 86% of its value year to far, coinciding with the collapse of crypto markets.

In its news release, Voyager Digital emphasized its “consistently high degree of transparency” and “risk management practices.” Despite its poor stock performance this year, it informed the public that it “maintains a strong position” and “has significant financial competence.”

Nonetheless, US officials have already served a cease-and-desist order on Voyager Digital. State authorities in Indiana, Kentucky, New Jersey, Oklahoma, Alabama, Texas, Vermont, and Washington specifically ordered Voyager to cease issuing interest-bearing crypto accounts.

State securities regulators issued similar directives to Celsius. Both companies are also under SEC investigation.