The Commodity Futures Buying and selling Fee (CTFC) is reportedly considering taking enforcement motion towards the co-founder of a bankrupt crypto lender.
In accordance with a brand new report by Bloomberg, the CTFC is contemplating charging Stephen Ehrlich, the ex-chief government of Voyager, of deceptive clients in regards to the security of their belongings after launching an investigation into the troubled agency.
Nameless sources conversant in the problem informed Bloomberg that CTFC commissioners are at present voting on whether or not or to not take enforcement actions towards Ehrlich inside the subsequent few days.
Nonetheless, the report notes that Ehrlich has not but formally been accused of any wrongdoing, additionally including that the CFTC can solely file civil prices.
In an e-mail to Bloomberg, Ehrlich – who was the CEO of Voyager when it filed for chapter in July 2022 – stated that he was “angered and perplexed” by the CFTC’s attainable enforcement actions, calling them unfounded.
As additional acknowledged by Ehrlich within the e-mail,
“Day in and day trip, Voyager labored carefully with the related regulators. These allegations seem like a kind of occasions the place the referees are making new guidelines and calling foul after the sport has ended. I look ahead to being vindicated in courtroom.”
In August, blockchain tracker Lookonchain discovered that Voyager had been promoting belongings on high US-based crypto alternate Coinbase and acquired about $85 million price of the stablecoin USD Coin (USDC).
Voyager went bankrupt in 2022 after Three Arrows Capital (3AC), one other crypto lending agency, did not pay again a mortgage price a whole bunch of tens of millions of {dollars}.
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