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Fundamental Research a new report on Voyager Digital Ltd. (TSX: VOYG / OTCQB: VYGVF / FRA: UCD2) - Surpasses 1M Active Users / Expecting Records in The Next Quarter As expected, Q1-FY2022 (ended September 2021) revenue was down 25% QoQ, amid a slowdown in global crypto trading volume due to weaker crypto prices. For comparison, Coinbase Global (NASDAQ: COIN) – operator of the largest crypto exchange in the U.S. - experienced a 39% QoQ revenue decline in the quarter. VOYG’s aggressive marketing campaigns are paying off, as funded accounts surpassed 1M this month, up 50% since June. Assets under management (AUM) hit $7B, up 54% since the end of September We note that sector risks remain high as crypto prices are likely to remain volatile. Central banks around the world are developing digital currencies, which may limit the transactional use of mainstream cryptos, such as Bitcoin. Q2 revenue will be driven by increased transaction volume, increased lending to institutions, staking initiatives, and international expansion. VOYG has received permits to operate in France; awaiting permits in Canada and other countries in Europe. Read the full report: https://www.researchfrc.com/voyager-digital-ltd-tsx-voyg-otcqb-vygvf-fra-ucd2-surpasses-1m-active-users-expecting-records-in-the-next-quarter/ \*Past performance is not indicative of future results.