The New York-based firm, which secured credit lines of $485 million in the past week from Alameda Research to shore up protection for customer assets, announced the limits on its website. This week, it disclosed exposure of about $660 million in loans to the troubled crypto hedge fund Three Arrows Capital, sending shares plunging as analysts raised the prospect of further damage.
Voyager shares trading in Toronto have plunged 95% this year.
Crypto Lender Nexo Taps Citigroup for M&As
Nexo, a crypto lender that has positioned itself as immune to the storms shaking decentralized finance, said it had hired Citigroup Inc. to advise on potential acquisitions.
The lender said it was seeking “best-in-class advice” from the bank, including on “liquidity restructuring deals,” according to a blog post dated June 22.
Nexo has made an unsolicited offer to acquire assets of its competitor Celsius, which has frozen investor withdrawals. The offer “didn’t come to fruition,” a Nexo spokesperson said in an email. Citigroup declined to comment.
--With assistance from Immanual John Milton.
This article was provided by Bloomberg News.