FTC Sues Voyager Digital's Former CEO for Falsely Claiming Customer Funds Were FDIC Insured
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FTC sued bankrupt crypto company Voyager's former CEO for falsely claiming accounts were FDIC insured.
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Voyager promised customers FDIC insurance, but crypto assets are not insured by FDIC.
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When Voyager filed bankruptcy, customers lost access to over $1 billion in crypto assets.
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As part of settlement, FTC fined Voyager $1.65 billion, but fine is suspended so money can repay customers.
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Government agencies increasingly litigious against crypto companies after high-profile failures like FTX.