FTC Bans Bankrupt Crypto Firm Voyager Digital from Handling Customer Assets, Files Suit Against Former CEO Over False Claims of FDIC Insurance

FTC reaches settlement with bankrupt crypto company Voyager Digital, banning it from handling consumer assets.

FTC files suit against former Voyager CEO Stephen Ehrlich for falsely claiming customer deposits were FDIC insured.

Voyager allegedly enticed customers by promising their crypto deposits were "safe", despite not actually being insured.

Settlement bans Voyager from offering financial services and orders $1.65 billion judgment, suspended due to bankruptcy.

FTC complaint alleges Voyager was aware their FDIC claims were misleading but continued false advertising.