Ashwin Prithipaul, the Chief Financial Officer of Voyager Digital LtdDigital Ltd, is preparing to step down from his position within a few months of his appointment at the Cryptocurrency lender that filed for bankruptcy in July.
The finance head will resign after a transition period to pursue other opportunities, and that Chief Executive Officer Stephen Ehrlich will head the role in the interim.
During the COVID-19 pandemic, Voyager drew 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 wide 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 hedge fund Three Arrows Capital has filed for bankruptcy.