Voyager chief financial officer to step down

Voyager Digital LtdDigital Ltd Chief Financial Officer Ashwin Prithipaul is preparing to step down from his position within months of his appointment at the Cryptocurrency lender that filed for bankruptcy in July.

On Friday, the finance head would resign to pursue other opportunities after a transition period, and Chief Executive Officer Stephen Ehrlich will head up the role in the interim.

During the COVID-19 pandemic, Voyager 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.

The Digital asset exchange Coinbase Global Inc and BlockFi have had to cut jobs while the Singapore-based criptocurrency hedge fund Three Arrows Capital has filed for bankruptcy.