Voyager Digital

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. Employees largely praised the engineering culture but faulted the top: Glassdoor reviews recurringly blamed the collapse on senior leadership's risk-taking and a lack of risk management around the uncollateralized loan, several reviewers contrasting a capable technical team against reckless decisions above them.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.