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24h Vol: $88,167,737,863
Seeking Alpha 2023-02-22 15:13:33

Voyager Digital faces FTC probe over 'deceptive and unfair' crypto marketing

Voyager Digital faces FTC probe over 'deceptive and unfair' crypto marketing
The U.S. Federal Trade Commission is investigating bankrupt cryptocurrency lending platform Voyager Digital ( OTCPK:VYGVQ ) and its management for allegedly "deceptive and unfair" marketing of crypto to the public, according to a Wednesday legal filing. In addition, the FTC argued that Voyager's ( OTCPK:VYGVQ ) recently proposed plan for its $1B asset sale to crypto exchange Binance.US would release the former from potentially fraud-related financial claims. “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,” the filing said. "This is impermissible. Accordingly, the Court should deny entry of the release and injunctions." Previously, (Jan. 5) the U.S. Securities and Exchange Commission made a fuss about the Binance.US-Voyager deal, citing an inadequate disclosure statement .
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