1 year ago
The U.S. Commodity Futures Trading Commission (CFTC) investigators person determined that Stephen Ehrlich, a co-founder of Voyager Digital, violated derivatives regulations earlier the company’s bankruptcy past year, Bloomberg reported connected Oct. 6.
According to the report, the enforcement part of the CFTC has made an interior proposal to formally impeach Ehrlich of violating derivatives regulations by providing customers with misleading accusation regarding the information of their assets.
Following the recommendations, CFTC Commissioners are deliberating connected whether an enforcement enactment should beryllium taken against him soon.
In an emailed connection to Bloomberg, Ehrlich reportedly said the bankrupt lender cooperated with applicable authorities earlier its implosion. He further said the anticipated suit “angered and perplexed” him. He added:
“These allegations look to beryllium 1 of those times wherever the referees are making caller rules and calling foul aft the crippled has ended. I look guardant to being vindicated successful court.”
Bloomberg besides reported that Voyager’s bankruptcy administrator, Paul Hage, endorsed a colony woody with the Federal Trade Commission (FTC). This statement addresses the FTC’s allegations that Voyager had provided inaccurate accusation to its erstwhile customers regarding the availability of Federal Deposit Insurance Corp. (FDIC) protection.
At its peak, Voyager was 1 of the largest lenders successful the cryptocurrency industry. Last year, the institution and respective others operating a akin concern exemplary failed successful the aftermath of marketplace downturn and respective precocious illustration collapses.
The station CFTC weighing charges against ex-Voyager Digital CEO Stephen Ehrlich appeared archetypal connected CryptoSlate.
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