Voyager Digital Ltd Chief Financial Officer Ashwin Prithipaul is getting ready to step down from his function inside months of his appointment on the crypto lender that filed for chapter in July.
The firm mentioned on Friday the finance head would resign after a “transition period” to pursue different alternatives, and that Chief Executive Officer Stephen Ehrlich will head the function within the interim.
Crypto lenders reminiscent of Voyager boomed in the course of the COVID-19 pandemic, drawing depositors with excessive rates of interest and quick access to loans hardly ever provided by conventional banks.
But inflation and subsequent fee hikes by the U.S. Federal Reserve led to a large sell-off within the various asset class that dealt a heavy blow to a number of firms within the sector.
Digital asset alternate Coinbase Global Inc and crypto lender BlockFi have been compelled to chop jobs, whereas Singapore-based crypto hedge fund Three Arrows Capital has filed for chapter.
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