US Federal Trade Commission Investigates Marketing Schemes of Crypto Firm Voyager.
23 Feb 2023, 08:00
US Federal Trade Commission Investigates Marketing Schemes of Crypto Firm Voyager
According to a court document filed recently in the Voyager Digital bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the marketing of the crypto firm. Like the U.S. Securities and Exchange Commission (SEC), the FTC has objected to Binance US purchasing Voyager’s assets.
FTC’s Objection to Voyager’s Proposed Sale Plan Could Impact BankruptcyIn a filing in bankruptcy court registered on Feb. 22, 2023, the U.S. Federal Trade Commission (FTC) detailed that it is investigating the marketing schemes of the crypto firm Voyager Digital. “The FTC has commenced an investigation into certain acts and practices of [Voyager] and [the] debtors’ employees, directors, and officers, for their deceptive and unfair marketing of cryptocurrency to the public,” the complaint explains.
The FTC filing says the proposed sale of the debtor’s assets would interfere with the current probe, which could essentially discharge Voyager and specific staff members from alleged “fraud-related debts held by a governmental unit.” The FTC is not the only government agency investigating Voyager. Texas’s securities regulator and attorney general objected to FTX purchasing Voyager prior to FTX’s collapse.