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Top cryptocurrency broker <keyword id="14344592" type="General" weightage="100" keywordseo="voyager-digital" source="Orion">Voyager Digital</keyword> on Wednesday filed for bankruptcy in the US, after top crypto hedge fund <keyword id="14202326" type="General" weightage="50" keywordseo="three-arrows-capital" source="Orion">Three Arrows Capital</keyword> (3AC) did the same last week, in which Voyager has made significant investments which the company is yet to get back. It had significant investments in Singapore-based hedge fund 3AC, which failed to make payments on a loan of 15,250 Bitcoins and $350 million USDCs -- that makes the loan worth more than $650 million. "This comprehensive reorganisation is the best way to protect assets on the platform and maximize value for all stakeholders, including customers," said <keyword id="495840" type="General" weightage="50" keywordseo="stephen-ehrlich" source="Orion">Stephen Ehrlich</keyword>, CEO of Voyager. The prolonged volatility and contagion in the crypto markets over the past few months, and "the default of Three Arrows Capital on a loan from the company's subsidiary, Voyager Digital, require us to take deliberate and decisive action now," he said in a statement. Earlier this week, Voyager suspended all trading, deposits, withdrawals and loyalty rewards on its platform. Voyager has approximately $1.3 bn of crypto assets on the platform and more than $350 million of cash for customers. The proposed plan of reorganisation "contemplates an opportunity for customers to elect the proportion of common equity and crypto they will receive, subject to certain maximum thresholds", said the company. The company said it has over $110 million of cash and owned crypto assets on hand, which will provide liquidity to support day-to-day operations. Voyager said it was actively pursuing all available remedies for recovery from 3AC. The development came as popular crypto tokens such as <keyword id="12177405" type="General" weightage="50" keywordseo="bitcoin-and-ethereum" source="Orion">Bitcoin and Ethereum</keyword> nosedived by nearly 70 per cent from their record highs amid the economic meltdown. The <keyword id="167953" type="General" weightage="50" keywordseo="monetary-authority-of-singapore" source="Orion">Monetary Authority of Singapore</keyword> last week slammed Three Arrows for providing false information and breaching an asset under management threshold. The mega fund, founded by Credit Suisse traders Zhu Su and Kyle Davies, once managed an estimated $10 billion in assets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/facebook-insta-and-google-took-down-over-21-million-posts-in-may-while-whatsapp-and-twitter-banned-over-19-lakh-bad-accounts/articleshow/92698950.cms">Facebook, Insta and Google took down over 21 million posts in May while WhatsApp and Twitter banned over 19 lakh ‘bad’ accounts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/your-acs-fridge-and-washing-machines-may-get-cheaper-soon/articleshow/92698315.cms">Your ACs, fridge and washing machines may get cheaper soon</a>

Crypto broker Voyager Digital files for bankruptcy a week after it suspends trading

<ul class="summary-list"><li>Crypto lender <keyword id="12161809" type="UNKNOWN" weightage="60" keywordseo="voyager-digital" source="Orion">Voyager Digital</keyword> filed for Chapter 11 <keyword id="11976192" type="UNKNOWN" weightage="60" keywordseo="bankruptcy" source="Orion">bankruptcy</keyword> protection on Tuesday. </li><li>Voyager said it has been hurt by "prolonged volatility and contagion" in the crypto <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>.</li></ul><a href="https://markets.businessinsider.com/stocks/vygvf-stock">Voyager Digital</a> filed for bankruptcy protection on Tuesday as the crypto platform navigates through a meltdown in prices in the digital-asset market and its exposure to a hedge fund that failed to repay a multimillion-dollar loan. "This comprehensive reorganization is the best way to protect assets on the platform and maximize value for all stakeholders, including customers," CEO Stephen Ehrlich said in a <a href="https://www.prnewswire.com/news-releases/voyager-digital-commences-financial-restructuring-process-to-maximize-value-for-all-stakeholders-301581177.html">press statement</a>. In <a href="https://cases.stretto.com/public/x193/11753/PLEADINGS/1175307062280000000036.pdf">Chapter 11 filing</a> with the bankruptcy court in the Southern District of New York, Voyager Digital listed Alameda Research Ltd. and Alameda Research Ventures among its creditors. Alameda, founded by crypto billionaire and FTX brokerage boss <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-crypto-billionaire-trade-bitcoin-digital-asset-payment-2021-7">Sam Bankman-Fried</a>, last month extended a loan to aid Voyager. Voyager's filing followed its <a href="https://markets.businessinsider.com/news/currencies/voyager-digital-crypto-bitcoin-daily-withdrawal-limit-10000-loan-3ac-2022-6">warning in June</a> that cryptocurrency hedge fund <keyword id="14273678" type="UNKNOWN" weightage="60" keywordseo="three-arrows" source="Orion">Three Arrows</keyword> Capital, or 3AC, hadn't repaid a loan of 15,250<a href="https://markets.businessinsider.com/currencies/btc-usd"> bitcoin</a> and $350 million of the<a href="https://markets.businessinsider.com/currencies/usdc-usd"> USDC stablecoin</a>, amounting to more than $660 million. Three Arrows last week filed for Chapter 15 bankruptcy, crippled in part by its own exposure to the collapse of cryptocurrency luna. <a href="https://markets.businessinsider.com/stocks/vygvf-stock"></a>Meanwhile, the so-called "crypto winter" in the cryptocurrency market has pulled the market's valuation to roughly $905 billion after hitting an all-time high above $3 trillion in November. <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> on Wednesday traded around $20,000, sliding from its all-time high above $68,000 in November. The "prolonged volatility and contagion in the crypto markets over the past few months, and the default of Three Arrows Capital on a loan from the company's subsidiary, Voyager Digital, LLC, require us to take deliberate and decisive action now," said Ehrlich. Voyager said it has more than $110 million of cash and owned crypto assets on hand that will provide liquidity to support day-to-day operations during the Chapter 11 process.<a href="https://markets.businessinsider.com/news/currencies/bitcoin-backed-loans-crypto-crash-liquidity-crisis-bankruptcy-collapse-3ac-2022-7">Crypto lenders Vauld and Celsius Network</a> have also been hit by the crypto-market crisis, forcing each to recently suspend withdrawals. Celsius has paid down $183 million of its debt to decentralized exchange Maker, <a href="https://www.coindesk.com/markets/2022/07/05/celsius-repays-183m-on-defi-exchange-maker-gets-back-collateral-blockchain-data-shows/">according to CoinDesk</a>, citing blockchain data. <div type="image" title="Voyager Digital CEO Steve Ehrlich" height="683" width="1367" msid="92707836" hostid="261" sizebytes="33676"></div>

Crypto firm Voyager Digital files for bankruptcy amid large loan loss and contagion in the digital asset market

<ul class="summary-list"><li>Shark Tank investor Mark Cuban will be deposed for his promotion of the now-defunct crypto lender Voyager.</li><li>Cuban had promoted the company as being "as close to risk-free as you're gonna get."</li></ul>Shark Tank investor Mark Cuban will be deposed next month in connection to his promotion of Voyager, the crypto lender described as a "Ponzi scheme" in a class action lawsuit.The <a href="https://www.businessinsider.com/mark-cuban-crypto-trading-bankrupt-voyager-digital-lawsuit-ponzi-report-2022-8">lawsuit</a>, which was originally filed in August, aims to hold Cuban and Voyager CEO Steve Ehrlich responsible for over $5 billion in lost customer funds. Cuban requested to split his deposition in court over two hearings, though that request was <a href="https://assets.law360news.com/1563000/1563561/https-ecf-flsd-uscourts-gov-doc1-051125442809.pdf">denied yesterday</a>, according to court documents, with orders for Cuban to deliver his testimony in one session on February 2.Voyager investors have claimed that Cuban and Ehrlich roped in naive customers to the platform, as Cuban, an <a href="https://markets.businessinsider.com/news/currencies/crypto-crash-mark-cuban-ftx-bankman-fried-arrest-bitcoin-bubble-2022-12">avid cryptocurrency investor</a>, touted the crypto exchange on numerous occasions to his followers. Cuban previously stated that he was a customer of Voyager himself, and claimed it was "as close to risk-free as you're gonna get in the crypto universe." Cuban's basketball team, the Dallas Mavericks, also entered a five-year partnership with the now-bankrupt crypto exchange. At one point, the the team ran a promotion wherein <a href="https://markets.businessinsider.com/news/currencies/mark-cuban-dallas-mavericks-free-bitcoin-100-voyager-digital-app-2021-10">Mavericks fans would receive $100 worth of Bitcoin</a> if they deposited $100 into Voyager."The Deceptive Voyager Platform … was an unregulated and unsustainable fraud, similar to other Ponzi schemes," the <a href="https://www.courthousenews.com/wp-content/uploads/2022/08/robertson-cuban-complaint-usdc-florida.pdf">class action</a> complaint reads. "Defendants Mark Cuban and Stephen Ehrlich were key players who personally reached out to investors, individually and through the Dallas Mavericks, to induce them to invest in the Deceptive Voyager Platform." <a href="https://markets.businessinsider.com/news/currencies/crypto-voyager-digital-bankruptcy-protection-filing-bitcoin-loan-prices-trading-2022-7">Voyager declared bankruptcy</a> last summer and was part of a <a href="https://markets.businessinsider.com/news/currencies/crypto-markets-recap-terrausd-meltdown-ftx-collapse-sam-bankman-fried-2022-12">chain of bankruptcies</a> among crypto firms stemming from the collapse of Terra-Luna, which sparked a massive sell-off in digital assets. The firm is going through Chapter 11 bankruptcy proceedings. <a href="https://markets.businessinsider.com/news/currencies/binance-sec-voyager-digital-exchange-cryptocurrencies-bankruptcy-filing-markets-objection-2023-1">Binance.US has made a $1 billion bid</a> to buy the assets of the defunct firm, though the deal is being scrutinized by the Securities and Exchange Commission, which raised a limited objection to the transaction.

Mark Cuban to be deposed over his promotion of Voyager crypto 'Ponzi scheme' in class action lawsuit

<ul class="summary-list"><li>Three Arrow Capital defaulted on a $670 million <keyword id="6360217" type="UNKNOWN" weightage="60" keywordseo="loan" source="Orion">loan</keyword> Monday, according to <keyword id="14253622" type="UNKNOWN" weightage="60" keywordseo="voyager" source="Orion">Voyager</keyword> Digital.</li><li>The loan was comprised of roughly 15,000 <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> and $350 million worth of the stablecoin USDC.</li></ul><keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">Cryptocurrency</keyword> hedge fund Three Arrow Capital defaulted on a $650 million loan Monday, according to lender Voyager Digital.The loan is comprised of roughly 15,000 bitcoin and $350 million worth of the stablecoin USDC. The failure to pay is the latest blow to the hedge fund which previously saw a tranche of its positions liquidated by BlockFi and Genesis. "We are working diligently and expeditiously to strengthen our balance sheet and pursuing options so we can continue to meet customer liquidity demands," said Voyager CEO Stephen Ehrlich.Voyager said it would attempt to recover funds from Three Arrow Capital, also known as <keyword id="14273679" type="UNKNOWN" weightage="60" keywordseo="3ac" source="Orion">3AC</keyword>, and was in contact with its legal team to map out next steps. Voyager added that 3AC's <keyword id="12136284" type="UNKNOWN" weightage="60" keywordseo="default" source="Orion">default</keyword> hasn't affected its platform and that it had $137 million worth of <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> and cash assets on hand to fulfill orders.But the default added to the liquidity problems in the cryptocurrency sector, which fell below a $1 trillion market capitalization as some of the largest cryptos have tumbled.Voyager recently put a limit on customer withdrawals over $10,000 on Thursday in anticipation of 3AC defaulting on its loan.Recently, Sam Bankman-Fried's crypto trading platform FTX has provided emergency liquidity, giving a $250 million loan to BlockFi last week. The week before that, he gave Voyager Digital a loan that totalled about $485 million in cash and crypto.And earlier this month, crypto lending platform Celsius completely paused withdrawals while crypto exchange Coinflex froze clients' assets.

Crypto hedge fund Three Arrow Capital defaults on $670 million loan as liquidity dries up across the sector

<ul class="summary-list"><li><keyword id="11784441" type="UNKNOWN" weightage="60" keywordseo="voyager-token">Voyager Token</keyword> spiked 42% to a 24 hour high of $3.44 Tuesday as traders cheered on the coin's parent company's new acquisition.</li><li id="recirc"><a href="https://www.businessinsider.com/?hprecirc-bullet"></a>On Monday <keyword id="11445442" type="UNKNOWN" weightage="60" keywordseo="voyager-digital">Voyager Digital</keyword> said it will acquire <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> payments firm <keyword id="11784442" type="UNKNOWN" weightage="60" keywordseo="coinify">Coinify</keyword>. </li><li>The Voyager Token is the 89th largest crypto by market capitalization according to CoinMarketCap data. </li></ul>Voyager Token spiked 42% to a 24-hour high of $3.44 around 9:10 a.m. ET on Tuesday as traders cheered on the coin's parent company's new acquisition, according to <a href="https://coinmarketcap.com/currencies/voyager-token/" target="_blank" rel="noopener">data from CoinMarketCap</a>.On Monday, cryptocurrency broker Voyager Digital announced it would acquire crypto custody and payments platform Coinify. Voyager intends to bolster its international expansion through the acquisition of the Denmark-based platform. "As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager's digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts," said Voyager co-founder and CEO Stephen Ehrlich in a press release.Day traders on Stocktwits praised the firm's decision and cheered on the Voyager Token's spike on Tuesday."Recently acquired company Coinify further expanding their global footprint in payment processing space. Voyager is still in its infancy, paving the way in crypto expansion and payment processing (ex Canada, Europe etc..)," one user commented.""I think it's time for everyone to YOLO!," another said. The token was the number 3 trending ticker on Stocktwits Tuesday morning. When the Voyager Token was up 42% for the day, it carried a current market capitalization of roughly $743 million, making it the 89th largest cryptocurrency on <a href="https://coinmarketcap.com/currencies/voyager-token/">CoinMarketCap</a> at that time.Meanwhile, shares of Voyager Digital are up over 250% year-to-date.

Voyager Digital's token spikes 42% as day traders cheer the firm's acquisition of crypto custody and payments platform Coinify

<ul class="summary-list"><li>Lender Vauld froze withdrawals Monday, another victim of a liquidity crisis spurred by the <keyword id="13899084" type="UNKNOWN" weightage="60" keywordseo="crypto-crash" source="Orion">crypto crash</keyword> this year.</li><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> hedge fund <keyword id="14273678" type="UNKNOWN" weightage="60" keywordseo="three-arrows" source="Orion">Three Arrows</keyword> Capital filed for bankruptcy Friday, intensifying concerns about stability.</li></ul>Troubled crypto hedge fund Three Arrows Capital has filed for bankruptcy in the US, making it the latest crypto investment firm to collapse during this year's digital asset sell-off.The hedge fund, familiarly known as <keyword id="14273679" type="UNKNOWN" weightage="60" keywordseo="3ac" source="Orion">3AC</keyword>, filed for Chapter 15 bankruptcy in a Manhattan federal court Friday, just three days after it was liquidated in the British Virgin Islands for <a href="https://markets.businessinsider.com/news/currencies/crypto-crash-three-arrow-capital-default-voyager-670-million-loan-2022-6?utm_medium=ingest&amp;utm_source=markets">defaulting on a $667 million loan to Voyager Digital</a>.The liquidity crisis in the crypto ecosystem stems from cryptocurrencies' dismal performance in 2022, which has seen leading token <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> plummet more than 70% from its all-time high in November.3AC has lost at least $400 million during the crash, according to <a href="https://www.theblock.co/linked/152092/after-facing-hundreds-of-millions-of-dollars-in-liquidations-three-arrows-capitals-future-is-uncertain">The Block</a>. Its failure to repay its debts has contributed to a broader liquidity crisis that's now rippling through crypto."The collapse of Three Arrows Capital has triggered the downfall of many other companies across the crypto space, particularly lenders who the hedge fund borrowed from in enormous sums," GlobalBlock analyst Marcus Sotiriou said in a research note Monday.Crypto lender Vauld is the latest company to suffer, <a href="https://www.vauld.com/blog/corporate-statement/">saying Monday</a> it has frozen withdrawals, trading and deposits. Here are the high-profile crypto players that are suffering during the ongoing liquidity crunch:<h2>Exchanges</h2><keyword id="12161809" type="UNKNOWN" weightage="60" keywordseo="voyager-digital" source="Orion">Voyager Digital</keyword> has suffered after 3AC failed to repay its debt. The exchange now holds $685 million in crypto assets, compared with the $1.12 billion it has loaned out, it said Friday.To cover its losses, the trading platform secured a line of credit from FTX CEO Sam Bankman-Fried's Alameda Ventures that amounted to $485 million in cash and bitcoin.After initially cutting its withdrawal limits from $25,000 to $10,000, Voyager has now temporarily suspended trading, deposits and withdrawals on its platform."This was a tremendously difficult decision, but we believe it is the right one given current market conditions," Voyager chief executive Stephen Ehrlich said in a <a href="https://www.prnewswire.com/news-releases/voyager-digital-provides-market-update-301579827.html">statement</a>.Deribit claims in court filings that <a href="https://www.ft.com/content/09f2cb5a-5e2d-4b5f-96cd-ffed455ae23b">3AC has failed to repay a loan of $80 million</a>, the Financial Times reported Friday. The derivatives exchange said the crypto hedge fund was one of its initial shareholders."Due to market developments, Deribit has a small number of accounts that have a net debt to us that we consider as potentially distressed," a <a href="https://twitter.com/DeribitExchange/status/1537458993781669891?ref_src=twsrc%5Etfw">Deribit tweeted</a> in June.Crypto exchanges Bancor and CoinFlex are also under pressure from the liquidity crunch.Bancor said in June it would <a href="https://blog.bancor.network/market-conditions-update-june-19-2022-e5b857b39336">pause one of its investor protection features</a>, but hasn't limited withdrawals from any accounts.Meanwhile, CoinFlex suspended all withdrawals on June 23. Roger Ver, the crypto evangelist known as '<a href="https://markets.businessinsider.com/news/currencies/coinflex-roger-ver-bitcoin-jesus-cryptocurrency-exchange-customer-withdrawals-recovery-2022-6">bitcoin Jesus</a>', owes the exchange $47 million, it said, though Ver denies this.<h2>Crypto lenders</h2>Vauld and Hong Kong-based Babel Finance are the latest crypto lenders forced to pause withdrawals. Vauld, which is backed by Coinbase Ventures, paused services Monday and is now <a href="https://twitter.com/VauldOfficial/status/1543859034536550402?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet">exploring restructuring</a>.Several of Babel's top employees have quit the lender since it said it was freezing accounts on June 17, according to <a href="https://www.theblock.co/post/154473/babel-finance-loses-multiple-top-employees-amid-troubles">The Block</a>.<keyword id="12298676" type="UNKNOWN" weightage="60" keywordseo="celsius-network" source="Orion">Celsius Network</keyword> was one of the earliest victims of the liquidity crunch, as it <a href="https://markets.businessinsider.com/news/currencies/crypto-lender-celsius-freeze-withdrawals-transfers-accounts-market-tumble-bitcoin-2022-6">froze all account withdrawals and transfers</a> on June 13, citing "extreme market conditions".Three weeks later, the crypto lender's customers are still waiting for word on when they can get access to their money, and the firm has hired financial restructuring advisers. Meanwhile, <a href="https://markets.businessinsider.com/news/currencies/goldman-sachs-seeks-2-billion-investors-buy-celsius-assets-2022-6">Goldman Sachs is reportedly trying to raise $2 billion to buy assets from the troubled lender at a significant discount</a>.<keyword id="12554310" type="UNKNOWN" weightage="60" keywordseo="blockfi" source="Orion">BlockFi</keyword> on Friday signed a deal to give FTX an option to buy the lender for a price as high as $240 million, its CEO Zac Prince <a href="https://twitter.com/BlockFiZac/status/1542934040092856321">tweeted Friday</a>. It also increased its prior emergency <a href="https://markets.businessinsider.com/news/currencies/bitcoin-crash-crypto-billionaire-sam-bankman-fried-ftx-jpmorgan-scaramucci-2022-6">$250 million loan from Bankman-Fried's company</a> to $400 million.Prince noted BlockFi faces $80 million in losses from its loan to 3AC, but it doesn't expect any more fallout, having fully accelerated the loan and fully liquidated or hedged all the associated collateral.Crypto lender and market maker Genesis faces potential losses running into the hundreds of millions of dollars, thanks to its exposure to 3AC and Babel, <a href="https://www.coindesk.com/business/2022/06/29/genesis-faces-hundreds-of-millions-in-losses-as-3ac-exposure-swamps-crypto-lenders-sources/" target="_blank" rel="noopener noreferrer">CoinDesk</a> reported Thursday.

Crypto lender Vauld has frozen withdrawals, and hedge fund Three Arrows Capital has filed for bankruptcy. Here are the crypto firms hit by the sell-off.

<ul class="summary-list"><li>The price of <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> has slipped to a near one-month low Thursday after hitting records last week.</li><li>Bitcoin dropped to $53,318 at 2:01 p.m. ET to its lowest since March 24.</li><li>Two experts explain why bitcoin's price is tumbling and why more weakness could be ahead. </li></ul>The price of bitcoin slipped to a near one-month low Thursday after a record-shattering week ahead of Coinbase's listing on April 14 in which the world's largest <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> broke consecutive records above the $63,000-level.Bitcoin slipped to $53,318 at 2:01 p.m. ET to its lowest since March 24. It was trading lower by 4% to 53,519 at 2:18 p.m. ET."BTC has slipped below the 50 [day moving average] support that it held sacrosanct through this rally, and looks like there is more downside here," Pankaj Balani, CEO of Delta Exchange, told Insider. The slide in bitcoin may also be attributed to the rise in other coins, particularly <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>, which has been taking center stage, Paolo Ardoino, CTO of Bitfinex, told Insider.<a href="https://markets.businessinsider.com/currencies/eth-usd?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">Ether</a> <a href="https://markets.businessinsider.com/currencies/news/ether-rallies-above-2500-nearing-a-300-billion-market-cap-2021-4-1030334415">spiked as much as 8.5% on Thursday</a> to a new record high above $2,560, pushing the market capitalization of the cryptocurrency near $300 billion for the first time."ETH has outperformed BTC this month and looks set to challenge its [all-time high]," Ardoino said, maintaining that bitcoin's place as a safe haven asset and hedge against inflation is still gathering strength.The volatility of bitcoin however has steadily been decreasing over time, Stephen Ehrlich, co-founder and CEO at Voyager Digital, a crypto asset broker, told Insider. Even the recent sharp moves have not seen such a big rise in volatility compared to historically, he said. <div type="image" title="Screen Shot 2021 04 22 at 2.39.16 PM" height="526" width="992" msid="82205149" hostid="261"></div>Overall, experts including Ryan Conway, SVP and head of business development &amp; strategic partnerships at Oxygen, a digital banking platform, remain bullish on bitcoin."Although there are several external factors that could lead to short-term swings this week, I am bullish on bitcoin long term as it has proven to demonstrate real utility as a store of value with the potential to replace gold or even major fiat currencies as a hedge against inflation," he told Insider.

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Crypto broker Voyager Digital files for bankruptcy a week after it suspends trading

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Crypto firm Voyager Digital files for bankruptcy amid large loan loss and contagion in the digital asset market

Carla Mozée

Mark Cuban to be deposed over his promotion of Voyager crypto 'Ponzi scheme' in class action lawsuit

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Crypto hedge fund Three Arrow Capital defaults on $670 million loan as liquidity dries up across the sector

Brian Evans

Crypto hedge fund Three Arrow Capital defaults on $670 million loan as liquidity dries up across the sector

Brian Evans

Voyager Digital's token spikes 42% as day traders cheer the firm's acquisition of crypto custody and payments platform Coinify

Emily Graffeo

Crypto lender Vauld has frozen withdrawals, and hedge fund Three Arrows Capital has filed for bankruptcy. Here are the crypto firms hit by the sell-off.

George Glover

Bitcoin is at its lowest level in nearly a month. 2 experts explain why they see more weakness ahead.

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