CFTC Weighs Enforcement Action Against Former Voyager Digital CEO: Report
US Commodity Futures Trading Commission (CFTC) officials are reportedly considering enforcement action against Stephen Ehrlich, the former CEO of crypto-lending firm Voyager Digital.
According to an Oct. 6 Bloomberg report, CFTC staff are considering taking action against Ehrlich after investigating whether Voyager's former CEO violated U.S. derivatives rules before Voyager filed for bankruptcy. The company filed for Chapter 11 protection in July 2022 amid the crypto market crash.
Ehrlich was said to be “angry and confused” by the claims.
“It seems like one of those allegations is one of those times when the referees make a new rule and commit a foul after the game is over.”
RELATED: Bankrupt Voyager Digital's creditors hit $5.1 million in legal fees
Voyager, still in bankruptcy proceedings, is listed by the US Federal Trade Commission as a “b [its] Fraudulent and unfair cryptocurrency trading to the public. A bankruptcy court approved Voyager's plan to pay customers in May, and the case was pending at press time.
The CFTC has a number of cases pending against crypto companies that have the potential to make waves in the US regulatory space, but many of the enforcement actions in 2023 have been filed by the Securities and Exchange Commission. Binance and its CEO, Changpeng Zhao, pushed to drop the CFTC lawsuit filed in March, after several executives at Binance.US left the exchange under regulatory scrutiny.
Magazine: US law enforcement agencies are turning up the heat on crypto-related crimes.
