"Is it really guilty? Because the former CEO said he was a victim."
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).
This is because Ehrlich is not only accused of violating derivatives regulations but also misleading his clients regarding the security of digital assets.
Later, he and Voyager Digital were also accused of falsely implementing the platform as a safe haven for customers' digital assets.
CFTC investigators who concluded Ehrlich violated agency rules before the lawsuit have led the regulator's commissioners to discuss whether to pursue enforcement action.
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.
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.
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.
