Voyager Digital supplies market updates

NEWYORK, July 1, 2022 /PRNewswire/ – Voyager Digital LLC, the operating platform of Voyager Digital Ltd. (“Voyager” or “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), announced the suspension of trading, deposits, withdrawals and loyalty rewards, in effect at 2:00pm Eastern Daylight Time today.

Voyager Digital, Ltd.  (CNW Group / Voyager Digital Ltd.)

Voyager Digital, Ltd. (CNW Group / Voyager Digital Ltd.)

“This has been an extremely difficult decision, but we believe it’s the right decision given the current market conditions,” Stephen Ehrlich, CEO of Voyager. “This decision gives us more time to continue exploring strategic alternatives with different interested parties while preserving the value of the Voyager platform we built together. I will provide additional information at the appropriate time.”

Voyager previously announced that its subsidiary, Voyager Digital LLC, had issued a notice of default to Three Arrows Capital (“3AC”) for failing to make the necessary payments on the loan. 15,250 BTC previously revealed and 350 million dollars USDC. Voyager is actively pursuing all available means to recover from 3AC, including through the court-ordered liquidation process in British Virgin Islands.

To assist in the exploration of strategic alternatives, the Company has invited Moelis & Company and The Consello Group as financial advisors and Kirkland & Ellis LLP as legal advisors.

Voyager also provides the following financial and balance sheet updates, as required by the Canadian Securities Act. All figures are preliminary, unreviewed and audited and are subject to final adjustment upon completion of quarterly and year-end closing procedures.

June 30, 2022

Crypto assets held (thousands)

685,373 USD

Lending Crypto Assets (thousands)

1,124,825 USD

One

Cash on hold for customers (thousands)

$355,725

Cryptocurrency Collateral Received/Hold (thousands)

$168,685

Note A: Balance included 350 million dollars USDC and 15,250 BTC loaned to Three Arrows Capital.

From June 30, 2022Loaned crypto assets include the following (in thousands, excluding the amount of coins):

June 30, 2022

Amount of coins

Fair value

Fair value sharing

BTC

21,796

$434,779

39%

REMOVE

USDC

401,762.866

401.763

36%

OLD

ETH

170,336

182.160

16%

Other

106.123

9%

total

1,124,825 USD

100%

Note B: Includes 15,250 BTC loan to Three Arrows Capital.

Note C: Consists of 350 million dollars USDC lent to Three Arrows Capital.

From June 30, 2022Lending crypto assets are broken down by significant borrower partner as follows (in thousands) (refer to previous filings for comparative information):

June 30, 2022

Borrowing interest rate

June 30, 2022

Partner A

1% – 11.5%

$376,784

Partner

3% – 10%

654.195

OLD partner

4% – 13.5%

17,556

EASY Partner

1% – 14%

27,342

E . Partner

1% – 30%

34.427

F Partner

0%

WOOD Partner

10.0%

13,770

Other

4% – 8%

751

total

1,124,825 USD

From June 30, 2022Crypto-asset loan balances are centralized with partners as follows (refer to previous profile for comparison information):

Geography

June 30, 2022

Partner A

British Virgin Islands

$376,784

Partner

Singapore

654.195

EASY

OLD partner

USA

17,556

EASY Partner

UK

27,342

E . Partner

Canada

34.427

F Partner

USA

WOOD Partner

USA

13,770

Other

Much

751

total

1,124,825 USD

Note D: Represents the amount lent to Three Arrows Capital.

About Voyager Digital Ltd.

Voyager Digital Ltd.’s (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a cryptocurrency platform in USA was founded in 2018 to bring choice, transparency and cost-effectiveness to the marketplace. Voyager offers a secure way to trade over 100 different crypto assets using its easy-to-use mobile app. Through its subsidiary Coinify ApS, Voyager provides cryptocurrency payment solutions to both consumers and merchants globally. To learn more about the company, please visit https://www.investvoyager.com.

Forward-looking statement

Certain information contained in this press release, including, but not limited to, statements regarding the exploration of strategic alternatives, discussions with third parties about solutions strategic alternatives and the results of those discussions, the temporary nature of the grounding, future growth and performance of the business, the exploration of strategic alternatives, future adoption of digital assets, anticipated trends and challenges in our business and industry, regulation of digital asset offerings, availability of credit agreements , the impact of defaulting on 3AC on the Company, including the Company’s ability to use credit contracts, the Company’s liquidity and ability to fulfill customer orders and withdrawals, and expected outcomes of the Company may constitute forward-looking information (collectively, forward-looking statements), which can be determined using personal c terms such as “could,” “will,” “should,” “expect,” “anticipate,” “project,” “estima te,” “intend,” “continue,” or” trust” (or negation) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause Voyager’s actual results, performance, or achievements to differ materially from those of any other company. any future results, performance or achievements expressed or implied by forward-looking statements. Furthermore, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor to assess the impact of all factors on our business, or the extent to which any factor, or combination of factors, may cause actual results to differ significantly from those contained in any -statement searches we may perform. Due to these risks, uncertainties and assumptions, future events and trends discussed in this press release may not occur and actual results may differ significantly and advantage over what is anticipated or implied in forward-looking statements. It is uncertain how much money Voyager will be able to recover from 3AC for non-payment and whether 3AC’s default will constitute a default under its credit agreement or the legal remedies available to Voyager in connection with its default. in connection with such non-payment or the impact on Voyager’s future business, cash flow, liquidity and outlook due to 3AC’s non-payment. Forward-looking statements carry a risk that the global economy, industry, or the Company’s business and investment activities do not perform as anticipated, revenue or cost estimates may be are not met or may be less or more than anticipated, that the parties to whom the Company lends the assets are able to repay those loans in full and in a timely manner, the transaction momentum is not continues or demand for transactional solutions declines, customer acquisition rates do not increase as planned, products and international expansion do not go as planned. , risks of compliance with laws and regulations that currently apply or may apply to the business and other risks contained in the Company’s public records, including in the Management Analysis and Discussion and Table of Contents. Company Annual Information (AIF) form. Factors that may cause the actual results of the Company and its business to differ materially from those described in such forward-looking statements include, but are not limited to: , resulting from exploring strategic alternatives, inability to continue trading, deposit, withdraw funds and rewards on the platform in a timely manner, inability to withdraw to credit line or access to other sources of financing, an increase in customer demand for withdrawals from the platform, any defaults or similar proceedings related to 3AC, our ability to find a strategic alternative, a decline in the digital asset market or general economic conditions; changes in legislation or regulatory approaches, failures or delays in the adoption of digital assets and the blockchain ecosystem by organizations; changes in cryptocurrency volatility, changes in demand for Bitcoin and Ethereum, changes in the status or classification of crypto assets, breaches of network security, delays or failures in develop infrastructure for businesses to transact or achieve missions and attractions; no growth in assets under management, adverse developments involving the issuer or party to the transaction, or failure to obtain regulatory approval. Readers are advised that the Assets on the Platform and trading volumes are volatile and may increase and decrease over time and such fluctuations are beyond the Company’s control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, therefore, forward-looking statements should not be unduly trusted. current or past performance, or current or past trends. Information identifying the assumptions, risks and uncertainties relating to the Company contained in the Company’s filings with the Canadian securities regulators is available at www.sedar.com. The forward-looking statements contained in this press release apply only as of the date of this publication or as of the date specified in the relevant forward-looking statement and the Company is under no obligation to update any forward-looking statements to reflect events or circumstances after that date or to reflect the occurrence of unforeseen events, except as required by law. The Company is under no obligation to provide operational updates, unless required by law. If the Company updates one or more forward-looking statements, it should not be inferred that the Company will make additional updates to those statements or other forward-looking statements, unless required by law. bridge. Readers are warned that past performance is not indicative of future performance. There is no guarantee that the funds available under the loan agreement will be available or, even if available, together with any other Voyager assets to be sufficient for asset protection.

TSX did not approve or disapprove the information contained in this document.

Tap Contacts

Voyager Digital, Ltd.

Voyager .’s public relations team
pr@investvoyager.com

Cision

Cision

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SOURCE Voyager Digital Co., Ltd

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