Shares of Voyager Digital (VOYG) have been suspended from trading in Toronto while the exchange begins an urgent investigation to determine whether the stock continues to meet the requirements for listing. The shares are also suspended from trading on the OTC market in the United States.
The Investment Industry Regulatory Organization of Canada (IIROC) announced Wednesday that trading in shares of Voyager Digital (VOYG.TO) on the TSX was suspended as of 8 a.m. ET. The Toronto Stock Exchange later announced that an accelerated liquidation review had begun. The shares are also listed in the United States on the OTC market, where they trade under the symbol VYGVF. The company filed for Chapter 11 protection in the Southern District of New York on Tuesday.
It is estimated that almost 60% of the crypto trader’s loan portfolio comes from loans to Three Arrows Capital (3AC), which Voyager CEO Steven Ehrlich has blamed for many of his misdeeds. . 3AC filed for bankruptcy on July 1 following a court order in the British Virgin Islands ordering the company’s liquidation.
As a creditor of the Celsius Network, Voyager suffered significant losses following the decline in the crypto market in the past few weeks, which ended with the suspension of transactions, deposits and withdrawals earlier this month.