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 Bankruptcy
In 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.
The Securities and Exchange Commission (SEC) objected to the proposed acquisition by Binance US. Despite the objection, Voyager received court approval to proceed with the sale. Voyager’s legal representation, Allyson Smith of Kirkland & Ellis, told the court the sale is “on track” to proceed. “We are on track and don’t anticipate any obstacles,” Voyager’s lawyer stressed. However, the latest filing by the FTC insists that the debtors are “not entitled to a discharge here.”
“Further, even if debtors were entitled to a discharge (through operation of consensual releases, for example), the code specifically precludes the discharge of fraud-related debts held by a governmental unit,” the FTC’s objection concludes. “Wherefore, for the foregoing reasons, the FTC respectfully requests the court deny confirmation of the debtors’ proposed plan; strike Section VIII.B and D of the proposed plan; or grant any other relief the Court deems just and proper.”
Tags in this story Attorney General, Bankruptcy, Binance.us, Code, confirmation, consensual releases, Court, Cryptocurrency, Cryptocurrency regulation, deceptive, discharge, fraud-related debts, ftc, ftx, governmental unit, Investigation, Kirkland & Ellis, legal representation, marketing schemes, objection, proposed plan, Relief, sale, SEC, Staff Members, Texas securities regulator, US Federal Trade Commission, Voyager bankruptcy, Voyager Digital
What do you think about the Federal Trade Commission saying it is investigating Voyager Digital’s marketing practices? Let us know what you think about this subject in the comments section below.
Jamie Redman
BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning NEWS | 3 hours ago 
Bank of Japan to Launch Digital Yen CBDC Pilot Later This Year NEWS | 11 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons
Previous article
Bitcoin Soars Over $25K, MEXC (MX) Rockets To All-Time High in 2023
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimerShow comments
More Popular News
In Case You Missed It
Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Well’
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s … read more.
Today’s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits Fidelity Investments Launches Crypto, Metaverse ETFs — Says ‘We Continue to See Demand’ Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Ethereum Foundation’s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether