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The Times of India
The Times of India
Business
Bloomberg

Crypto’s brutal week ends with a trading halt and a bailout

Crypto Three Arrows Sam Bankman-Fried Voyager Stephen Ehrlich Blockchaincom

The meltdown in cryptocurrency markets deepened this week, as major players contended with liquidations, withdrawal freezes, trading halts -- and, at least in one case, a bailout.

Crypto broker Voyager Digital Ltd on Friday announced a suspension of trading, deposits and withdrawals, while BlockFi, a major digital-asset lender, won the backing of exchange FTX US with the potential to be acquired. Both companies were upended by the woes of Three Arrows Capital Ltd, the beleaguered crypto hedge fund that was ordered for liquidation by a British Virgin Islands court this week and filed for Chapter 15 bankruptcy protection in New York.

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