(Bloomberg) -- The co-founder and former chief executive officer of Voyager Digital Ltd. broke derivatives rules while at the helm of the crypto lender, leading to its bankruptcy and $1.7 billion in customer losses, US regulators alleged Thursday.
On Thursday, the CFTC accused Ehrlich and Voyager of making false statements to encourage customers to store, but not withdraw, their assets.
“Behind the scenes, at Ehrlich’s direction and approval, Voyager took excessive risks with customer assets,” the agency said. “Voyager’s reckless transfers led to its own demise.”
Voyager filed for bankruptcy in July 2022, citing volatility in the crypto markets and the collapse of Three Arrows Capital, a hedge fund that defaulted on a loan of more than $650 million from Voyager. - Yahoo Finance
It just seems that more and more of this space is gradually declining. What's your take on this ? Why do some many companies start effing up ??!
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