Declan Kelly’s Consello Group is serving as a financial advisor for Voyager Digital, which has filed for Chapter 11 as a casualty of the crash in cryptocurrency prices.

The Toronto-based cryptocurrency platform suffered losses of more than $650M on a loan it made to Three Arrows Capital, a failed crypto investor.

Its July 6 Chapter 11 filing is less than a week after it suspended trading and prevented customers from withdrawing funds.

Voyager CEO Stephen Ehrlich said the corporate restructuring “is the best way to protect assets on the platform and maximize value for all stakeholders, including customers.”

The reorganization, once implemented, would allow customers to access their accounts.

Kelly launched Consello in February after resigning as CEO of Teneo in May 2021. He stepped down from Teneo, which he co-founded, after becoming inebriated at a Global Citizen event.

Prior to Teneo, Kelly had top posts at Financial Dynamics and FTI Consulting and served as US economic envoy to Northern Ireland.

Consello is an advisory focused on merchant banking, corporate development and mergers/acquisitions.