Lrf, Company

The Chief Financial Officer (CFO) of US-based crypto platform Voyager Digital, Ashwin Prithipaul, has decided to resign from his post months after his appointment.This is yet another sign of crisis for the crypto service provider after filing for bankruptcy earlier this year. According to reports, Prithipaul was appointed as the CFO in May.Founded in 2018, Voyager offers over 100 different crypto assets using its online platform.The US-based crypto broker and lender said that its CFO Ashwin Prithipaul is resigning to pursue "other opportunities"."Prithipaul will depart from the Company after a transition period, and Chief Executive Officer Stephen Ehrlich will assume Prithipaul's duties in the interim," Voyager said in a statement on Saturday."On behalf of the Board of Directors and the executive leadership team, I want to extend our sincerest gratitude to Ashwin for his many valuable contributions, especially for his efforts during Voyager's restructuring process," said Ehrlich.Meanwhile, the firm, through the bankruptcy procedure, intends to maximize value for all its stakeholders, it said in a statement. It aims to pay its employees in the usual manner and continue their primary benefits and certain customer programs without disruption. Trading, deposits, withdrawals and loyalty rewards on the Voyager platform remain temporarily suspended.It had approximately USD 1.3 billion of crypto assets on its platform while filing the bankruptcy process, plus claims against Singapore-based Three Arrows Capital ("3AC") of more than USD 650 million. The Three Arrows Capital has defaulted on various loans and too is in deep trouble.To put things into context about the recent slump in crypto trade, the value of Bitcoin as a crypto asset tumbled sharply in 2022 and left many investors poorer.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

LrfFOLLOW

Lrf, Latest News

Radha TMT has always been the trailblazer in TMT manufacturing and a hallmark of quality and excellence. With over six decades of legacy, the brand is one of the most trusted TMT bar manufacturers in Telangana and Andhra Pradesh. Under the visionary ...

Mr. Bharat Moossaddee Appoints industry veteran Mr.Bharat Moossaddee as Independent Director Q2 Revenue up 30% YOY Major breakthrough in ... ...

Dynamic Cables Limited (DCL), a Jaipur based power cable manufacturer announced its result for Q2FY23. Company reported a sale of Rs 173.4 crs, a healthy growth of 30% yoy. In the quarter gone by Company received major breakthrough in its MVCC produc ...

Puravankara reports highest ever sales for Q2 and for H1 of any financial year since inception. ...

The Coca-Cola Company today reported strong third quarter 2022 results as the company continued to build on the momentum from the first half of the year. "Our strong capabilities and consumer insights continue to help us win in the marketplace," said ...

Lokmat News Network Aurangabad, Oct 11: Kranti Chowk police station has registered an offence against so-called herbal company officials ... ...

The electric two wheeler Company further aims to achieve an additional 4X growth and addition of 200 new outlets ... ...

The Chief Financial Officer (CFO) of US-based crypto platform Voyager Digital, Ashwin Prithipaul, has decided to resign from his post months after his appointment. ...