Voyager Digital LtdDigital Ltd Chief Financial Officer Ashwin Prithipaul is about to step down from his position within 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 epidemic, cryptocurrencies such as Voyager exploded, drawing 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.
The digital asset exchange Coinbase Global Inc and BlockFi have had to cut jobs, while the Singapore-based hedge fund Three Arrows Capital has filed for bankruptcy.