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Is USD Actually FDIC-Insured on Voyager?
$VYGVF up about 10% today after plunging lower by over 50% yesterday.
The company disclosed it had more than $660 million exposed to Three Arrows Capital; Voyager has not been paid back yet. The company may issue a notice of default to the crypto hedge fund.
USD from Voyager hit my bank account today so I can breathe a sigh of relief 😅
There is also controversy that USD on Voyager is not actually FDIC-insured. See the picture below:
image
Big question is whether Voyager loaning money to 3AC qualifies as “malfeasance.” It also appears that USD may not be insured if Voyager fails, according to the first highlighted sentence. Any thoughts?
Meanwhile, Voyager quietly lowered one-day withdrawal limits to $10,000 without notifying customers 🤔
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