Voyager Digital
Crypto brokerageUSA
New to Unitard
💀 Dead / Bankrupt
Peak $3 BillionToday
~-100%
from peak
- 🦄Became a unicorn~2021
- 📈Peak valuation$3 Billion ’21
- 💔Became a UnitardJul 2022
- 💸Last valuationWiped out
🔥 Raised & burned
$100M
Total raised
$67.8K/day
Burned · 4.0y alive
Funding: press (Series C/D rounds)
Current status
Chapter 11 (2022); wound down
The rise & fall
7 moments · 2018–2023The key moments, with employee sentiment along the way.
2018
2018
Founded
A commission-free brokerage pitch for crypto: one app, dozens of tokens, and yield on deposits.
Wikipedia
2021
2021
The peak: ~$3B in the retail crypto frenzy$3B
The 2021 bull run carries the Canada-listed brokerage to roughly a $3B valuation as retail traders pile in.
CNBC
Jun 2022
Jun 2022
Three Arrows defaults
The crypto hedge fund fails to repay a loan of roughly $650M — largely uncollateralized — and Voyager's balance sheet caves.
CNBC
2022
From the inside · Glassdoor reviews, 2022
Employees largely praised the engineering culture and faulted the top: Glassdoor reviewers recurringly blamed the collapse on senior leadership's risk-taking and the lack of risk management around the uncollateralized loan, contrasting a capable technical team with the reckless decisions made above it.
Jul 2022
Jul 2022
Chapter 11 — joins the Unitard Club 💔
Days after freezing withdrawals, Voyager files for bankruptcy, its ~$3B valuation effectively gone.
Cleary Gottlieb
2022
2022
FTX wins the auction — then implodes
FTX US bids about $1.4B for Voyager's assets; the rescue dies when FTX itself collapses weeks later.
Reuters
2023
2023
Second rescue fails; wind-down
A Binance.US deal falls apart too; the estate winds down, selling assets and returning only part of what customers held.
Reuters
$3Bof peak value erased · 4 years
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Voyager Digital was a US crypto brokerage and lending platform valued at roughly $3B at its 2021 peak. It was heavily exposed to the failed crypto hedge fund Three Arrows Capital, whose default triggered a liquidity crisis; Voyager filed for Chapter 11 bankruptcy in July 2022 and wound down, assets partly sold off, leaving it essentially worthless.
Source: Cleary Gottlieb
Where they went
- Stephen Ehrlichco-founder & CEOChief Strategy Officer at SOL Strategies Inc.
- Oscar Salazarco-founder (also an early Uber engineer)Not on record
- Philip Eytanco-founder & chairmanCo-Founder at Particle
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
