Damn! Why is the CFTC Suing the Ex-CEO of This Bankrupt Crypto Broker Company?

<p>&nbsp;"Is it really guilty? Because the former CEO said he was a victim."</p><p><br /></p><p>The cryptocurrency market is once again in the spotlight as Stephen Ehrlich, former CEO of now-bankrupt Voyager Digital, is being sued by the Commodity Futures Trading Commission (CFTC).</p><p><br /></p><p>This is because Ehrlich is not only accused of violating derivatives regulations but also misleading his clients regarding the security of digital assets.</p><p><br /></p><p>Later, he and Voyager Digital were also accused of falsely implementing the platform as a safe haven for customers' digital assets.</p><p><br /></p><p><br /></p><p>CFTC investigators who concluded Ehrlich violated agency rules before the lawsuit have led the regulator's commissioners to discuss whether to pursue enforcement action.</p><p><br /></p><p>However, Ehrlich, who denied the allegation vehemently, said that he had been made a follow-up scapegoat before and had never faced any problems during his tenure at the public company.</p><p><br /></p><p>It is widely known that the allegations against Ehrlich arose shortly after Voyager Digital went bankrupt in July 2022 during a period when the crypto market saw a significant drop.</p><p><br /></p><p>Plus there was the collapse of the Terra Luna stablecoin in May 2022, where Voyager Digital was forced to halt customer withdrawals despite having over $1 billion in assets and 100,000 creditors.</p>

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