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Voyager Digital

All articles tagged with #voyager digital

business2 years ago•4 min saved

Regulators Sue Voyager Digital CEO for Fraud and False Claims

The Federal Trade Commission (FTC) has reached a settlement with crypto company Voyager Digital, permanently banning it from handling consumers' assets, and is filing a lawsuit against its former CEO, Stephen Ehrlich, for falsely claiming that customers' accounts were insured by the Federal Deposit Insurance Corporation (FDIC). The FTC alleges that Voyager used misleading promises of safety to entice consumers to deposit funds, resulting in over $1 billion in losses when the company declared bankruptcy. The proposed settlement includes a ban on Voyager offering any product or service related to assets and a judgment of $1.65 billion, which will be suspended to allow Voyager to return remaining assets to consumers. Stephen Ehrlich has not agreed to a settlement, and the FTC's case against him will proceed in federal court.

via Federal Trade Commission News|

#business #cryptocurrency #fdic

cryptocurrency2 years ago•3 min saved

Binance.US Cancels $1.3B Deal with Voyager Digital, Putting Trillions of SHIB at Risk.

Voyager Digital's lawyers expressed surprise at Binance.US's cancellation of a $1 billion deal to buy its assets, citing an "uncertain regulatory climate" in the US. Voyager filed for bankruptcy in July, and a deal by FTX to buy its assets fell through after FTX also collapsed in November. Voyager's creditors are likely to recover between 40% to 65% of their holdings, depending on the outcome of a parallel lawsuit involving FTX. Voyager intends to give creditors back their holdings in original cryptocurrency, subject to regulatory restrictions and platform functionality.

via CoinDesk|

#bankruptcy #binanceus #cryptocurrency

cryptocurrency2 years ago•1 min saved

Binance.US Backs Out of $1B Voyager Digital Asset Deal.

Binance.US has rejected the deal to buy the assets of bankrupt crypto lender Voyager Digital for $1.3 billion, which was aimed at repaying its creditors. The deal with FTX also fell apart earlier, and regulatory opposition clouded the acquisition by Binance.US. A federal judge temporarily stopped Voyager from completing the proposed deal last month, allowing the US government more time to pursue challenges.

via Fox Business|

#asset-sale #bankruptcy #binanceus

cryptocurrency2 years ago•2 min saved

Binance.US cancels $1B Voyager asset purchase deal.

Binance.US has backed out of its agreement to purchase $1 billion of bankrupt cryptocurrency brokerage Voyager Digital assets, citing the "hostile and uncertain regulatory climate in the United States." The deal had been blocked on March 28 by an emergency stay granted by a judge while the U.S. Department of Justice appealed Voyager’s bankruptcy plan. Voyager and the Voyager Official Committee of Unsecured Creditors both tweeted their dismay at the development shortly before Binance.US made its announcement. Voyager declared bankruptcy on July 5.

via Cointelegraph|

#asset-purchase #bankruptcy #binanceus

cryptocurrency2 years ago•1 min saved

Binance.US cancels $1.3B deal with Voyager Digital.

Binance.US has cancelled its $1.3 billion deal to buy assets of bankrupt crypto lender Voyager Digital, citing a "hostile and uncertain regulatory climate." Voyager had been looking to raise funds through an asset sale to repay creditors after it collapsed into bankruptcy last year. The company had initially agreed to sell its assets to major digital asset exchange FTX, but that deal fell apart when FTX imploded in November.

via Reuters|

#asset-sale #bankruptcy #binanceus

cryptocurrency2 years ago•1 min saved

Binance.US terminates $1.3B deal to acquire Voyager's assets.

Binance.US has terminated the $1 billion asset purchase deal with bankrupt crypto lender Voyager Digital, citing the "hostile and uncertain regulatory climate in the United States." Voyager Digital said its Chapter 11 plan allows for direct distribution of cash and crypto to customers via the Voyager platform. A substantive part of the deal was allowed to proceed by the US government in an April 20 filing, despite concerns the fine print of the contract would pardon breaches of tax or securities law.

via CoinDesk|

#asset-purchase-deal #binanceus #chapter-11-plan

cryptocurrency2 years ago•3 min saved

Elon Musk's Twitter Logo Change Boosts Dogecoin Popularity

Dogecoin's price surged over 35% after Elon Musk's Twitter replaced the social media platform's blue bird with the cryptocurrency's Shiba Inu dog logo. Meanwhile, Binance's market share of trading volume has dropped to 54% from 70% two weeks ago, while Voyager Digital and its creditors could lose $100 million if legal objections brought by the US government aren't resolved by April 13. Additionally, Coinbase's market share fell to a weekly average of 49% from 60% during the first quarter.

via CoinDesk|

#binance #coinbase #cryptocurrency

finance2 years ago•1 min saved

Judge denies US government's request to halt Binance-Voyager deal.

The US District Court for the Southern District of New York has denied the US government's appeal to halt the acquisition of bankrupt brokerage firm Voyager Digital by Binance.US. The court ruled that any delay in the deal would harm the interests of Voyager's former clients waiting for the return of their funds. The court's approval for Binance.US' acquisition of Voyager was granted on March 7, and the restructuring plan is expected to result in Voyager creditors recovering approximately 73% of the value of their funds.

via Cointelegraph|

#acquisition #bankruptcy #binanceus

cryptocurrency2 years ago•3 min saved

Bitcoin's Rollercoaster Ride: Rally, Collapse, and Potential Bullish Streak

Bitcoin falls back to below $25,000 after reaching a nine-month high on Tuesday at about $26,500, following the release of the U.S. Consumer Price Index, which showed that the rate of inflation is slowing down. Meanwhile, altcoins continue to rally, with stacks (STX) taking the lead up 36% over the past 24 hours. The U.S. government has called for a hold on Binance.US' deal to buy the assets of bankrupt crypto lender Voyager Digital for $1 billion, while Anchorage Digital is laying off roughly 20% of its staff due to the slide in digital asset prices.

via CoinDesk|

#altcoins #anchorage-digital #bitcoin