Voyager Digital Financial News

Voyager Digital Ltd on Thursday, saying the executive and the crypto lender misled customers about the safety of their assets while taking «excessive risks» that led to the firm's demise. The U.S. Commodity Futures Trading Commission (CFTC) accused Stephen Ehrlich, who helped launch Voyager in 2018, of committing fraud from February to July 2022. Ehrlich and Voyager promised customers a safe haven for digital assets stored on their platform — at times valued at more than $2 billion — while «recklessly» loaning to high-risk counterparties, including four firms that are also now bankrupt, the CFTC said in a lawsuit filed in federal court in New York. Voyager was one of several crypto firms to collapse in 2022, along with Celsius Network and BlockFi, after crypto prices plummeted amid interest rates and worsening macroeconomic conditions. In a statement, Ehrlich said he was «outraged and deeply dismayed» by the allegations.

U.S. regulators have initiated legal actions against former Voyager Digital CEO and co-founder, Steve Ehrlich, accusing him of engaging in fraudulent activities and deliberately misrepresenting the level of government protections afforded to his customers. 

Bankrupt crypto lender Voyager Digital's recent transfer of 1,500 Ether (ETH) and 250 billion Shiba Inu (SHIB) tokens, worth around $2.77 million and $2.7 million respectively, to Coinbase has ignited suspicion and speculation in the crypto community.

Bankrupt crypto lender Voyager Digital has seen more than $250 in net outflow since it resumed withdrawals on June 23, a year after it filed Chapter 11 and halted withdrawals. 

Bankrupt crypto lender Voyager Digital has won court approval to self-liquidate assets and start repaying customers a portion of their frozen funds. 

Bankruptcy crypto lender Voyager Digital said customers will soon recover 35 percent of their cryptocurrency deposits, following a rocky road over the past few months of multiple failed buyouts.

Bankrupt crypto lender Voyager Digital has announced plans to self-liquidate its assets and shut down operations after deals to sell itself to FTX or Binance.US fell apart. 

Binance.US has pulled out of the $1.3 billion deal to buy bankrupt crypto lender Voyager Digital, citing a "hostile" regulatory climate in the United States. 

The case the US Government has made against Binance.US’ plans for an acquisition of bankrupt crypto lender Voyager Digital got a little stronger after a judge decided to halt the merger of the firms pending a government appeal.

Voyager Digital's bankruptcy plan, creating a new hurdle for the crypto lender's plan to sell its assets and transfer its customers to Binance.US in a deal valued at $1.3 billion. The U.S. Attorney's Office for the Southern District of New York and the Office of the U.S. Trustee, the Department of Justice's bankruptcy watchdog, filed a notice of appeal late Thursday in U.S. bankruptcy court in Manhattan. It did not detail why they were appealing. U.S. Bankruptcy Judge Michael Wiles, who is overseeing Voyager's Chapter 11 bankruptcy process, had approved Voyager's restructuring plan, which is built around the acquisition by crypto exchange Binance.US, at a hearing on Tuesday after overruling objections from the U.S. Securities and Exchange Commission and DOJ. Voyager, Binance.US and the DOJ did not immediately respond to requests for comment on the appeal.

Binance.US, the American arm of crypto exchange Binance, has hit yet another roadblock in its attempts to buy the assets of the bankrupt crypto lending firm Voyager Digital: Texas, USA, officials have once again objected to the deal between the exchange and the lender.

The Federal Trade Commission (FTC) has announced that it is investigating the bankrupt crypto lender Voyager Digital for “deceptive and unfair marketing of cryptocurrency to the public.”

Crypto exchange Binance's U.S. unit is relaunching its bid to buy bankrupt crypto lender Voyager Digital, Coindesk reported on Thursday, citing a person familiar with the matter.

FTX.US, the U.S. arm of global crypto exchange FTX, has emerged as the highest and best bidder to buy the assets of crypto lender Voyager Digital out of bankruptcy. 

 

Troubled crypto lender Voyager Digital said it plans to "restore access" to cash deposits in USD this week. Here's what the process might look like.

The Federal Reserve and the Federal Deposit Insurance Corp (FDIC) sent a letter to the firm on Thursday.

In another sign of dark clouds gathering over troubled crypto platform Voyager Digital, the US Federal Deposit Insurance Corporation (FDIC) and the board of the Federal Reserve (Fed), America’s central bank, have issued a joint letter in which they demand that the company cease and desist from making what they describe as “false and misleading statements regarding its FDIC deposit insurance status” and take action to correct such prior statements.