Fed Is Driving Current Downturn, Crypto Billionaire Says
While investors have become increasingly concerned with rising inflation, the Fed planned to address it by hiking interest rates. The central bank has been clear with regards to what it would do to control inflation. (Read More)
Voyager Digital sent out an email to customers announcing that withdrawals processed before the suspension of trading were now being processed. The exchange halted deposits, withdrawals, trading, and rewards on June 30, and the business has issued little communication since.
On July 3, the exchange posted a thread on Twitter confirming the value of its assets and placating them with assurances Voyager is doing its best to resolve the issue. Voyager confirmed it holds $1.3 billion in crypto-assets and $35in cash in the bank. It is also “pursuing a series of strategic alternatives” to “best serve our customers for the long term.”
In an email sent Monday, Voyager gave customers hope by declaring that it was in the process of completing withdrawals submitted before the “temporary suspension.’ Any funds requested before the suspension are now going through “routine procedures including security and anti-fraud review, and processing by our banking partner.”
The news is highly positive for investors hoping to regain access to their funds. Customers of Celsius have been unable to recover funds for several weeks, while Voyager suspended withdrawals less than a week ago. While the news does not mean all users can access their funds, it shows progress. There is currently no word on when or if other customers will be able to withdraw funds. The full email is shown below as shared by Digital Asset News.
