Ashwin Prithipaul to step down as finance chief at troubled Voyager
Ashwin Prithipaul is preparing to step down from his position within a month of his appointment at the crypto lender that filed for bankruptcy in July.
The finance head will resign after a transition period to pursue other opportunities, and Chief Executive Officer Stephen Ehrlich will take over the role in the interim.
During the COVID-19 epidemic, Voyager, a cryptanalym, attracted depositors with high interest rates and easy access to loans rarely offered by traditional banks.
Inflation and subsequent rate hikes by the U.S. Federal Reserve resulted in a sell-off in the alternative asset class that dealt a heavy blow to several companies in the sector.
Digital asset exchange Coinbase Global Inc and BlockFi have had to cut jobs while Singapore-based criptocurrency hedge fund Three Arrows Capital has filed for bankruptcy.