Bankrupt Crypto Lender Voyager’s CFO Ashwin Prithipaul Resigns

Voyager, Ashwin Prithipaul, resignation

Bankrupt crypto lender Voyager Digital, which saw a number of troubles amid the volatile crypto market this year, has announced that its Chief Financial Officer Ashwin Prithipaul will be stepping down.

Prithipaul will be moving on “to pursue other opportunities,” according to the Friday (Sept. 23) press release. There will be a transition period before he resigns, and CEO Stephen Ehrlich will do Prithipaul’s job in the interim.

“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,” Ehrlich said.

PYMNTS has written about Voyager’s troubles, including the company being put up for auction earlier this month.

Read more: Crypto Lender Voyager Heads to Bankruptcy Auction

The auction was scheduled for Sept. 13, and at least 22 parties had reportedly expressed interest in buying the company, including Binance and FTX. Binance’s bid ended up being slightly higher, according to the Wall Street Journal.

The court is also scheduled to hold a hearing Oct. 19 to approve the result of the hearing, the Journal noted.

Voyager has faced a number of problems this year, and Alameda Research, owned by crypto billionaire Sam Bankman-Fried, recently said that it will return $200 million in cryptocurrency borrowed from the company.

See also: Alameda to Return $200M Voyager Digital Loan

Court documents from earlier this month said Alameda would pay around 6,500 bitcoin and roughly 51,000 ether by the end of the month, and Voyager will return the collateral tied to the loan. Alameda had previously tweeted that it was “happy” to return the loan.

Bankman-Fried’s FTX and Alameda also proposed to buy Voyager back in July, but a lawyer countered that that bid was a “low -ball bid dressed up as a white knight rescue” and would actually cost the company money overall.

For all PYMNTS crypto coverage, subscribe to the daily Crypto Newsletter.