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US Federal Trade Commission investigating crypto firm Voyager’s marketing plans –

According to a recent court document filed in Voyager Digital’s bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the crypto firm’s marketing. Like the US Securities and Exchange Commission (SEC), the FTC has objected to Binance US’s purchase of Voyager’s assets.

The FTC’s objection to Voyager’s proposed sale plan could affect bankruptcy

In a filing filed with bankruptcy court on Feb. 22, 2023, the U.S. Federal Trade Commission (FTC) detailed that it is investigating crypto firm Voyager Digital’s marketing plans. “The FTC has opened an investigation into certain of the actions and practices of [Voyager] And [the] Employees, directors and officers of the Debtors for their fraudulent and unfair marketing of cryptocurrency to the public,” explains the complaint.

The FTC filing says the proposed sale of the debtor’s assets would disrupt the current investigation, which could essentially clear Voyager and certain employees of alleged “fraud-related debts of a government entity.” The FTC isn’t the only government agency investigating Voyager. The Texas Securities Commission and Attorney General opposed FTX’s purchase of Voyager prior to FTX’s collapse.

The Securities and Exchange Commission (SEC) has objected to the proposed acquisition by Binance US. Despite the appeal, Voyager received court approval to proceed with the sale. Voyager’s legal counsel, Allyson Smith of Kirkland & Ellis, told the court the sale was “on track” to proceed. “We are on course and do not expect any obstacles,” emphasized Voyager’s lawyer. But the FTC’s most recent request insists the debtors “are not entitled to any relief here.”

“Moreover, even where debtors would be entitled to relief (e.g., through mutual releases), the Code expressly excludes relief from fraudulent debt held by a government entity,” concludes the FTC’s objection. “Therefore, for the foregoing reasons, the FTC respectfully requests the Court to refuse to confirm the Debtors’ proposed plan; Delete Section VIII.B and D of the proposed plan; or grant such other remedy as the court shall find equitable and reasonable.”

What do you think of the Federal Trade Commission’s statement that it is investigating Voyager Digital’s marketing practices? Let us know what you think about this topic in the comment section below.

US Federal Trade Commission investigating crypto firm Voyager’s marketing plans –, Crypto Trading News

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.




photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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