by Wolf Richter
Wolf Street
Bankrupt Voyager gets slapped with a cease-and-desist order from the Fed and the FDIC after it’s way too late.
This evening, the Federal Reserve Board and the FDIC, as banking regulators, sent out a joint press release, advising the world that they sent a joint letter to Voyager Digital today, in which they demand that Voyager “cease and desist from making false and misleading statements regarding its FDIC deposit insurance status.”
Voyager Digital is or was a crypto platform, crypto lender, and crypto broker that lured customers into depositing their crypto and fiat there, and then on July 1 suspended all withdrawals and trading, and then on July 6 filed for bankruptcy, and whoever had any money, fiat, or crypto, or whatever on the platform, is now an unsecured creditor in a bankruptcy case, and they have no idea if they will ever get any of their money, fiat, or crypto back.