'I'm done with crypto': Voyager bankruptcy rocks true believers
BNN Bloomberg
Crypto investors are known for their devotion, but their confidence is cracking as the latest company collapse rattles the industry.
News that customers of bankrupt broker Voyager Digital Ltd. likely won’t get all their money back has struck a new kind of fear into those already whipsawed by the sector’s swift declines.
Crypto traders often shrug off steep losses, arguing they’re holding for the long term and expect prices to rebound. Yet for investors who trusted Voyager with their retirement savings, down payments and emergency cash, the prospect that their investments might be gone forever is a wakeup call for those who believed large trading platforms offered a form of security.
Aaron Selenica, 21, says he “fell into the crypto craze” last fall after hearing about Bitcoin from his friends and joining the University of Connecticut’s crypto club. He saw ads for Voyager at the school’s basketball games and eventually invested about US$15,000 in Bitcoin on the platform.
