https://www.coindesk.com/policy/2023/02/22/voyager-being-probed-for-deceptive-crypto-marketing-ftc-says/
Bankrupt crypto lender Voyager Digital and its executives are being probed for deceptive marketing of cryptocurrency, the U.S. Federal Trade Commission said in a legal filing Wednesday.
The FTC said it doesn’t want any plan to wind up the affairs of Voyager – the "debtor" in the legal filing – to interfere with its investigation.
“The FTC has commenced an investigation into certain acts and practices of Debtors and Debtors’ employees, directors, and officers, for their deceptive and unfair marketing of cryptocurrency to the public,” the filing said.
A bankruptcy plan proposed by Voyager on Jan. 13 included a sale of company assets to crypto exchange Binance US. The plan, however, would also have released the company and its employees from financial claims, potentially including those related to wrongdoing, the FTC said.
“By not excluding, inter alia, false pretenses and false representations, the release can be read to interfere with causes of action by a governmental unit like the FTC,” inhibiting the agency’s ability to prosecute its claims, the filing argued.
In June, the FTC warned consumers had lost over $1 billion to crypto scams and bogus investment schemes.
Counsel for Voyager Digital did not immediately respond to a request for comment.
Dive into the critical courtroom review led by Federal Judge Amy Berman Jackson, as she scrutinizes the classification of digital assets in the Binance case. This article explores the legal nuances, key arguments, and the potential impact on the future of cryptocurrency regulation.
WeiliangExplore the alarming rise of 'AI undressing' in our digital world. Discover the ethical and legal implications as AI tools generate synthetic explicit content, posing threats to privacy and integrity. Learn about global responses to combat this urgent issue.
MiyukiExplore the recent exploit of Milady Maker, an NFT project on Ethereum, involving $1 million in diverted fees and social media hijacks. Discover the response from Charlotte Fang and the community's resolve to overcome this digital setback.
BrianExplore the resilience of Manta Network during its MANTA token launch amidst a challenging DDoS attack.
WeiliangDiscover the astonishing tale of a crypto trader who made a $6.77 million profit within three hours of the SatoshiVM token launch using the Banana Gun sniping tool.
MiyukiFrom the impact of ETFs and on-chain metrics to shifts in decentralized exchanges and political influences, delve into the factors driving the evolution of digital finance.
BrianExplore HTX's swift recovery from a DDoS attack and its resilient journey through cyber challenges, including the November hack.
WeiliangExplore the transformative journey of Bitcoin ETFs in the U.S. ETF market, outshining silver and challenging gold
MiyukiUnderstand how Bitcoin's price, GBTC's strategic transitions, and the competitive landscape are reshaping investor strategies and the future of crypto investments.
BrianExplore the remarkable 90% surge in Uma's token price following the announcement of Oval, a cutting-edge solution targeting MEV in lending protocols. Dive into the mechanics of MEV, Uma's strategic response, and the broader implications for the DeFi space.
Weiliang