Voyager Settlement

About Voyager Settlement

Voyager Digital settled with the FTC in 2023 for misleading customers about FDIC insurance. The settlement confirmed that Voyager had falsely claimed customer deposits were FDIC insured. The FDIC sent Voyager a cease and desist letter in July 2022. Voyager had approximately 1.2 billion in customer deposits when it filed for bankruptcy. The case highlighted misleading marketing in the cryptocurrency industry. Many crypto companies implied or stated that customer funds were government insured when they were not. The Voyager case contributed to regulatory crackdowns on crypto marketing. Voyager customers ultimately received partial recovery through the bankruptcy process, with some receiving cryptocurrency transfers valued at the time of distribution.