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Voyager Digital CFO Resigns After Five Month Stint

Summary:
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

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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.

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