Voyager Digital shares are 34% less on Monday. On Friday, the crypto company announced that it would suspend withdrawals, deposits, and trading.
Voyager Digital shares dropped 34% Monday after last week’s announcement by the crypto lender that it was restricting services to users.
According to data from Toronto’s stock exchange, shares in the Canadian company were trading at 0.39 Canadian dollars at the time of writing.
Canada’s trading resumed Monday after a Friday national holiday. Voyager also announced that it had “temporarily suspended trading, deposits and withdrawals, as well as loyalty rewards”
Monday’s losses are due to a turbulent second quarter, in which shares plunged more than 90%.
Voyager’s downturn has affected its performance, but its problems were made worse by Three Arrows Capital (3AC) in June. The firm sent a notice to 3AC regarding the late repayment of a $650m loan. This was before 3AC filed Chapter 15 bankruptcy proceedings on Friday.
Voyager’s stock price has fallen below its native Voyager token (VGX) market value due to the latest losses. According to CoinGecko data, Monday’s market cap for VGX was approximately $72 million. The company’s equity, however, was only $58 million.