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.