Ashwin Prithipaul, the chief financial officer of Voyager Digital Ltd, is prepared to leave his position just a few months after being hired by the cryptocurrency lender that declared bankruptcy in July.
The company said on Friday the finance head would resign after a “transition period” to pursue other opportunities, and that Chief Executive Officer Stephen Ehrlich will head the role in the interim.
Crypto lenders such as Voyager boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks.
But inflation and subsequent rate hikes by the U.S. Federal Reserve led to a wide sell-off in the alternative asset class that dealt a heavy blow to several companies in the sector.
Digital asset exchange Coinbase Global Inc and crypto lender BlockFi have been forced to cut jobs, while Singapore-based crypto hedge fund Three Arrows Capital has filed for bankruptcy.
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