Voyager Digital shares drop 34% as crypto platform limits service

Voyager Digital shares fell 34% on Monday following last week’s announcement that the crypto lender was limiting services for users.

Shares in the Canadian firm were trading for 0.39 Canadian dollars, at the time of writing.

On Friday, Voyager revealed it was “temporarily suspending trading, deposits, withdrawals and loyalty rewards.”

While Voyager has been affected by the downturn in markets, its issues were exacerbated in June by its exposure to the crypto hedge fund Three Arrows Capital (3AC).

The firm issued a notice of default to 3AC over failed repayment of a $650 million loan last Monday — before 3AC filed for Chapter 15 bankruptcy on Friday.