Tuesday, July 05, 2022

Voyager Digital (VYGVF)
Suspends Business; What’s Next?

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

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Suspends Business. On Friday, Voyager Digital LLC, the operating platform of Voyager, announced it is temporarily suspending trading, deposits, withdrawals, and loyalty rewards, effective at 2:00 p.m. Eastern Daylight Time Friday. As of June 27th, the Company had accessed US$75 million of the line of credit made available by Alameda. VYGVF shares dropped another 30.7% on the news to close at $0.30.

Loans Update. Voyager provided information as of June 30th on its loan program. Three Arrows accounted for 58.2% of Voyager’s $1.12 billion outstanding loans, with one other counterparty accounting for an additional 33.5% of the outstanding loans. As of June 30th, Voyager held $1.2 billion of crypto, cash, and crypto collateral. …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.