Collapse of Voyager
Collapse of Voyager.
The collapse of Voyager Digital was not predicted. A peak of 3.5 million customers and $5.9 billion in assets put Voyager at the top of its game at the time. Small regional banks or reputable wealth management firms would have been the equivalent of such financial numbers. A bright future for Voyager was in the making.
Crypto Bear Market.
Late last year, if you asked people, even those who were on the know, if there would be a crypto bear market, you’d be laughed at. I know I was. It felt to me that something was not going right. Incidentally, my feel was just the same as when governments around the world were printing cash, but gold and silver was plummeting. People like myself seemed to be unable of even conceiving about the commodity bear market, much alone the ramifications of such a market. Well, the crypto timing seemed exactly the same. Sadly, Voyager Digital CEO Stephen Ehrlich could not time this market.
Chapter 11 Bankruptcy.
As told by the Chief Executive Officer, there were two factors that contributed to the company’s precarious financial situation. A combination of factors, including growing inflation and interest rates, led to a precipitous drop in the price of cryptocurrencies. Bitcoin‘s price falling by sixty percent from its all-time high in 2021 was a factor. A cryptocurrency hedge fund known as Three Arrows Capital missed payments on a loan of $650 million that was given by Voyager in March.
Unsecure Loan.
Back in March 2022, Three Arrows Capital was in charge of managing a fund with an estimated value of $10 billion. Voyager Digital provided Three Arrows Capital with massive unsecured loans. It would seem that the failing hedge fund in question is now in default on all of its commitments. As of the 27th of June, Three Arrows Capital was placed into liquidation. On July 1st, Three Arrows Capital filed for bankruptcy.
Shaking Out Investors.
I believe that the globalists are trying to scare people into giving up cryptocurrency. They need the regular Joe to be poor. By shaking off us, the globalists hope that the World Economic Forum’s 4th Industrial Revolution will bring them even more domination. Look at the timing of Luna. I believe that the globalists are trying to bully everyone into submission.
In the past few weeks, we have seen the cryptocurrency lender Vauld, backed by Peter Thiel, temporarily suspend withdrawals. There have been other reports that cryptocurrency broker Genesis lost hundreds of millions of dollars due to the bankruptcy of Three Arrows Capital. We also know that a Korean investment fund lost 99 percent of its customers’ funds due to the collapse of Luna. All this before the most profitable 2023 bull market possible? Something is fishy here. It will be interesting to see how everything unfolds. I, for one, am not relinquishing my crypto.
If you would like me to write a blog post about crypto, please contact me through email:
arshakandriasov@aol.com
