Voyager at first claimed that it had $350 million at the Metropolitan Commercial Bank, even as it called out the “wolf in sheep’s clothing” that is Sam Bankman-Fried.
FDIC insurance doesn’t protect against insolvency, default, or bankruptcy of any non-bank entity such as digital asset exchanges, custodians, or brokers.
The Federal Reserve and FDIC claim that Voyager made "false and misleading statements, directly or by implication, concerning Voyager's deposit insurance status."
The U.S. Securities and Exchange Commission is probing Coinbase again just a week after its debacle with the company's former employee, who was accused of insider trading.
The regulator revealed its investigations have already found that BlockFi and Voyager have been offering unregistered securities and is going after others.
Meta is shutting down its Novi wallet. The social media company is asking its users to withdraw their funds—either by transferring them to their bank accounts or withdrawing them as cash.
Voyager Digital CEO Stephen Ehrlich says the company will be using Chapter 11 protection to begin restructuring the enterprise in a way that will maximize the value for its stakeholders.
Digital asset hedge fund Three Arrows Capital, which had been around since 2012, now appears to be dragging other industry names into its whirlpool.
News broke early this week that a British Virgin Islands court had ordered Singapore-based digital currency hedge fund Three Arrows Capital (3AC) into liquidation.
The regulators filed a mix of show cause and cease and desist orders against Voyager, which replied by saying that its products haven’t violated securities laws.
The U.S. securities regulator believes that these companies offer products that should be regulated as securities, months after going after Coinbase for its Lend product.