According to Bloomberg News, the Commodity Futures Trading Commission (CFTC) has found that Stephen Ehrlich, co-founder of Voyager Digital Ltd., violated regulations leading to the cryptocurrency lender’s bankruptcy last year.
CFTC investigators recommend taking action against Ehrlich for allegedly misleading customers about asset safety. The CFTC commissioners are currently voting on whether to proceed with enforcement action.
Ehrlich has strongly denied these claims, stating that Voyager worked closely with regulators and he looks forward to clearing his name in court. Ehrlich further emphasized the dedication of the Voyager team to maintaining integrity and adhering to the regulatory framework that was in place at the time.
He expressed profound sorrow for the losses endured by Voyager’s customers and creditors due to the actions of others within the cryptocurrency industry. In his own words, “Plainly said, we were all scammed together.”
Voyager filed for Chapter 11 bankruptcy after the Terra blockchain collapse wiped out $40 billion in market value.
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