Travel guilty of misrepresenting his insurance?  The Fed is attacking hard

Travel guilty of misrepresenting his insurance? The Fed is attacking hard

Do you travel to a depth less than Earth? – especially because of $670 million in loans what he owes Three equity sharestrading app digital travel She found herself in bankruptcy. As society struggles to recover, Federal Reserve (Fed) comes in personally to kick him in the knees. Thus Voyager is under attack for its statements regarding Securing his deposits.

Voyager ordered to stop his ‘misleading’ statements

In early July 2022, the cryptocurrency exchange platform digital travel He had no choice but to put himself under protection US bankruptcy law. If the company refuses to throw in the towel and you try Restructuring Instead of filing for final bankruptcy, a bad news It might make it more difficult for him.

In fact, it is not less than Federal Reserve American, along with Federal Deposit Insurance Corporation (FDIC), which comes to put additional speakers in the wheels already impregnated with Voyager wood.

In an official letter revealed on July 28, the two organizations demanded no less than a “stop and desist” To the coding company:

“We hereby request Voyager to cease and desist from making false and misleading statements regarding the deposit insurance status (…) and to take immediate action to correct its past statements.”

Excerpt from the Fed and FDIC letter to Voyager.

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Confirmed by Federal Reserve Bank and Federal Insurance Corporation (FDIC): No Deposit Guarantee for Clients

The “false and misleading data” In the question a little later in the message. Thus we can read that the two American organizations accuse Traveling to lie about facts:

  • assert himself Certain with the FDIC;
  • from her clients You will benefit from insurance Federal Insurance Corporation (FDIC) for all funds deposited;
  • The FDIC will assure customers against bankruptcy Travel.

The Federal Reserve and the Federal Insurance Corporation (FDIC) made it clear that these false statements have mislead customers Who put their money with Voyager. It will actually only be his banking partner, The Metropolitan Bankwhich will be insured with the FDIC.

“Voyager maintains a deposit account in favor of its Metropolitan Commercial Bank customers (…) whose deposits are insured by the FDIC. However, Voyager is not itself insured by the FDIC, so customers who invest through its cryptocurrency platform will not get Insurance coverage in the event of Voyager bankruptcy. »

Even if Voyager tried to straighten her head out, especially by allowing herself to He rejected the hasty (interested?) offer of FTXthings look more than Complex. Anyway, on the side Trustworthy loss Additional to their clients, the Fed and FDIC did not go out of their way.

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