Thursday, March 31, 2022

Voyager Digital (VYGVF)(VOYG:CA)
A Speed Bump in the Road

Voyager Digital Ltd through its subsidiary, operates as a crypto asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet and custody services through its institutional-grade open architecture platform.

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.

In the Cross Hairs. Yesterday, Voyager reported that is aware of or had received cease and desist orders from a number of states in respect to Voyager accounts that permit customers to earn rewards on their crypto balances. The actions by the states appears to be similar to what happened to Blockfi in February this year.

Voyager Response.  The Company stated, “Voyager is firmly convinced that its Earn Program and the Voyager Earn Accounts are not securities and intends to demonstrate its position and defend it as necessary and appropriate.” Voyager is seeking clarification of the terms of each of these regulatory orders, including effective dates and how proposed civil penalties in respect of alleged violations are …

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.