V Voyager reduces daily withdrawal limit to $10,000

V Voyager reduces daily withdrawal limit to $10,000

According to an update on the company's website, Voyager Digital Ltd has lowered its daily withdrawal limits to $10,000 from $25,000.

The company said on Wednesday that it could issue a default notice to Three Arrows Capital Ltd if the hedge fund doesn't repay its loan.

Voyager's exposure to Three Arrows Capital consists of 15,250 bitcoins, nearly $310 million and $350 million USDC.

The company said it had initially asked for repayment of $25 million USDC by June 24, but later requested that the entire amount be repaid by June 27. Voyager said that neither of them has been repaid.

It said that legal remedies are available to recover the amount from the hedge fund.

A revolving line of credit was signed by Voyager and Alameda Ventures Ltd earlier this month, seeking access to additional capital to meet its customers' needs as crypto prices take a hit.