Voyager Digital plans to reach a settlement with two executives regarding the loan handling of Three Arrows Capital

2022-10-19 14:07:54

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ChainCatcher news, according to CoinDesk, a public court document shows that after an internal investigation, the crypto lending platform Voyager Digital plans to settle with two executives regarding their handling of loans to Three Arrows Capital.

The document reveals that as early as March, then-CEO Stephen Ehrlich and CFO Evan Psaropoulos agreed to allow Voyager to lend nearly $1 billion in cryptocurrency to Three Arrows Capital. However, a special committee composed of two board members from Voyager found that pursuing negligence claims against Ehrlich and Psaropoulos would be difficult and costly, and it was unlikely to recover much. Voyager proposed a settlement that would have Ehrlich pay Voyager $1.125 million in cash, claim up to $20 million under the directors and officers insurance policy, and allow Ehrlich and Psaropoulos to continue in their current positions, pending approval from the bankruptcy judge in the case. (source link)

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