Voyager Digital Falls on Cease and Desist Orders From States (1)

Voyager Digital Ltd. shares plummeted on Wednesday after the firm said it has received, or is aware of, cease and desist orders for its interest-earning cryptocurrency product from New Jersey, Indiana, Kentucky and Oklahoma.

The crypto investment firm is in ongoing communications with state regulators to better understand the orders and to “clarify certain statements in the orders that Voyager believes are inaccurate,” it said. The shares, which trade on the Toronto Stock Exchange, fell 21% as of 12:32 p.m. New York time.

Voyager has allegedly been financing income-generating businesses such as lending and staking of digital assets “at least ...