Voyager’s chief digital financial officer resigns after 5 months on the job

The move comes as the insolvent crypto lender has attracted a number of bailout offers from major industry players.

Voyager Digital’s chief financial officer, Ashwin Prithipaul, is set to leave the company after a transition to “pursue other opportunities”.

The CEO joined the company as CFO in May of this year.

  • Current Voyager CEO Stephen Ehrlich will take on the role temporarily taking on Prithipaul’s duties.
  • In addition to a brief stint as CFO in Drive Digital, Prithipaul has also held executive positions at Galaxy Digital, initially as Chief Accountant, then as CFO. In a statement, Ehrlich said,
    On behalf of the Board of Directors and executive leadership team, I would like to extend my sincerest thanks to Ashwin for his many valuable contributions, especially his efforts in the rebuilding process. Voyager structure”.
  • Voyager filed for Chapter 11 bankruptcy in July of this year. Court documents reveal that its outstanding debts amount to nearly $10 billion.
  • Prithipaul’s departure comes as the New York-based company announced the start of the process of selling its assets earlier this month.
  • The auction, which began on September 13, saw top bids from crypto exchanges – Binance and FTX – each of approximately $50 million.
  • Voyager has yet to accept an offer and the results of the auction will be announced on September 29.
  • Meanwhile, Alameda Research, the quantitative crypto trading firm founded by Sam Bankman-Fried, has agreed to repay a $200 million crypto loan loan from Voyager and will receive $160 million in return. la as collateral.
  • The lender also says that the proceeds of the credit will only be used if it is needed to protect customer assets amid the current volatile market climate.

Read more: Voyager Customers Say No to Employee ‘Retention’ Bonus Bid

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