Crypto's Latest Twist: Ex-Voyager CEO Under Regulatory Scrutiny
The crypto world sees unexpected turns as the U.S. Commodity Futures Trading Commission (CFTC) concludes an investigation into Stephen Ehrlich, a Voyager Digital co-founder. The verdict suggests Ehrlich may have breached derivatives regulations, adding to Voyager's troubles amid looming bankruptcy.
Yahoo Finance reported on Sunday, October 8, 2023, that regulators accuse Ehrlich of misleading customers about asset safety following an extensive Voyager probe, with inside sources confirming in Bloomberg.
Once a hopeful crypto ship, Voyager now faces turbulent waters. It suffered significant losses during the crypto winter, triggered by Terra Luna's collapse in May 2022, and froze customer withdrawals just before filing for bankruptcy.
Ehrlich remarked, "We were all deceived together," acknowledging industry players' actions. Yet, he praised Voyager's ethical values, hopeful for courtroom vindication.
Bloomberg reports the CFTC's ongoing vote on legal action against Ehrlich. CFTC has not responded to Reuters' comment request."
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