Voyager lost $58 million in 2022 due to its rewards marketing program

According to ChainCatcher news, as reported by CoinDesk, Voyager lost $58 million in 2022 due to its rewards program, which included high-yield interest accounts, referral programs, and more. Court documents show that Voyager executives expressed concerns that offering high-yield products to users would result in significant losses. Voyager executives always viewed the costs of the rewards program as necessary marketing expenses to acquire users, but due to substantial losses, they hoped to reduce the yields on some of the yield products. (source link)