The Commodity Futures Trading Commission (CTFC) is reportedly contemplating taking enforcement action against the co-founder of a bankrupt crypto lender.
According to a new report by Bloomberg, the CTFC is considering charging Stephen Ehrlich, the ex-chief executive of Voyager, of misleading customers about the safety of their assets after launching an investigation into the troubled firm.
Anonymous sources familiar with the issue told Bloomberg that CTFC commissioners are currently voting on whether or not to take enforcement actions against Ehrlich within the next few days.
However, the report notes that Ehrlich has not yet formally been accused of any wrongdoing, also adding that the CFTC can only file civil charges.
In an email to Bloomberg, Ehrlich – who was the CEO of Voyager when it filed for bankruptcy in July 2022 – said that he was “angered and perplexed” by the CFTC’s possible enforcement actions, calling them unfounded.
As further stated by Ehrlich in the email,
“Day in and day out, Voyager worked closely with the relevant regulators. These allegations appear to be one of those times where the referees are making new rules and calling foul after the game has ended. I look forward to being vindicated in court.”
In August, blockchain tracker Lookonchain found that Voyager had been selling assets on top US-based crypto exchange Coinbase and received about $85 million worth of the stablecoin USD Coin (USDC).
Voyager went bankrupt in 2022 after Three Arrows Capital (3AC), another crypto lending firm, failed to pay back a loan worth hundreds of millions of dollars.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://dailyhodl.com/2023/10/07/us-commodities-regulator-mulling-enforcement-action-against-co-founder-of-bankrupt-crypto-lender-voyager-report/
