US Federal Trade Commission investigates marketing plans of crypto firm Voyager
A bankruptcy court filing registered on February 22, 2023 detailed by the United States Federal Trade Commission that it is investigating the marketing plans of crypto farm Voyager Digital, and in addition the complaint itself states that, “The FTC has has commenced an investigation into the acts and practices of [Voyager] and [the] Borrower’s employees and directors and officers for misleading and other advertisements of cryptocurrencies for the purpose of trading and promoting them”.
The FTC’s filing states that the proposed sale of the debtor’s assets would interfere with the current investigation, which could essentially clear Voyager and certain staff members from “debts related to fraud by a government entity” and The FTC is not the only government agency investigating this matter. The Attorney General at Texas securities regulator definitively objected to FTX buying Voyager prior to the collapse of crypto exchange FTX and the Securities and Exchange Commission definitively objected to the proposed acquisition by Binance US and Despite this objection, Voyager received court approval to proceed with the sale and the court was told by Voyager’s legal representation, Alison Smith of Kirkland & Ellis, that it would certainly work to proceed with the sale. are doing and is “on track”. Voyager’s attorneys insist that of course we’re on a truck and anticipate any sort of encumbrance. However, the latest filing by the FTC insists that the debtors “are not entitled to discharge here.” It was further stated in the filing that the debtor was entitled to discharge and if we were to exemplify this we would obtain that (through the operation of consent release), the code was specifically held by a government entity. Prohibits from servicing all types of loans related to frauds committed. FTC’s objection ends. For that reason and with respect to these consequences, the FTC respectfully denies and opposes any of the Debtors’ proposed plans with the Court.
