The Commodity Futures Trading Commission (CTFC) is reportedly considering taking enforcement action against Stephen Ehrlich, the co-founder and former CEO of Voyager, a bankrupt crypto lender. Bloomberg reports that the CTFC is looking into charging Ehrlich with misleading customers about the safety of their assets. Anonymous sources say that the CTFC commissioners are currently voting on whether to proceed with enforcement actions against Ehrlich. However, it should be noted that Ehrlich has not been formally accused of any wrongdoing, and the CTFC can only file civil charges.
Ehrlich responded to the potential enforcement actions in an email to Bloomberg, expressing his anger and perplexity. He stated that Voyager had worked closely with regulators and believes the allegations to be unfounded. Ehrlich expressed his confidence in being vindicated in court. In August, blockchain tracker Lookonchain revealed that Voyager had sold assets on Coinbase and received $85 million worth of the stablecoin USD Coin. Voyager filed for bankruptcy in 2022 after failing to receive repayment on a loan worth hundreds of millions of dollars from Three Arrows Capital (3AC), another crypto lending firm.
This news suggests that the CTFC may take enforcement action against Stephen Ehrlich, the co-founder and former CEO of Voyager. The CTFC is reportedly investigating whether Ehrlich misled customers about the safety of their assets. The commissioners are currently voting on whether to proceed with enforcement actions against Ehrlich. However, it is important to note that Ehrlich has not been formally accused of any wrongdoing, and the CTFC can only file civil charges. Ehrlich responded to the potential actions, expressing his surprise and confidence in being vindicated in court. In August, Lookonchain revealed that Voyager had received $85 million worth of USD Coin from selling assets on Coinbase. Voyager filed for bankruptcy in 2022 after Three Arrows Capital failed to repay a loan.
