Voyager Digital’s Chief Financial Officer, Ashwin Prithipaul, is set to exit the company after a transition period to “pursue other opportunities.”
The exec joined the company as the CFO in May this year.
- Voyager’s current Chief Executive Officer, Stephen Ehrlich, will step into the role to assume Prithipaul’s duties in the interim.
- In addition to a brief stint as a CFO in Drive Digital, Prithipaul also served executive positions at Galaxy Digital, initially as Chief Accounting Officer, followed by a CFO role.
- In a statement, Ehrlich said,
“On behalf of the Board of Directors and the executive leadership team, I want to extend our sincerest gratitude to Ashwin for his many valuable contributions, especially for his efforts during Voyager’s restructuring process.”
- Voyager filed for Chapter 11 bankruptcy in July this year. Court documents revealed that its outstanding liabilities amounted to nearly $10 billion.
- Prithipaul’s departure comes as the New York-based firm announced initiating the process of selling its assets at the beginning of this month.
- The auction, which began on September 13, saw top bids from cryptocurrency exchanges – Binance and FTX – of approximately $50 million each.
- Voyager is yet to accept an offer, and the results of the auction will be announced on September 29.
- Meanwhile, Alameda Research, the quantitative crypto trading firm founded by Sam Bankman-Fried, agreed to repay $200 million worth of crypto loaned from Voyager and will receive $160 million in return as collateral.
- The lender also said that the proceeds of the credit facility would be used only if it needs to safeguard customer assets in the wake of current market volatility.