{"id":471744,"date":"2022-07-08T00:55:00","date_gmt":"2022-07-07T21:55:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fdic-reportedly-scrutinizing-voyager-digital-marketing-complex-sbf-ties-come-to-light\/"},"modified":"2022-07-08T00:55:00","modified_gmt":"2022-07-07T21:55:00","slug":"fdic-reportedly-scrutinizing-voyager-digital-marketing-complex-sbf-ties-come-to-light","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fdic-reportedly-scrutinizing-voyager-digital-marketing-complex-sbf-ties-come-to-light\/","title":{"rendered":"# FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af18af17c21e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af18af17c21e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/fdic-reportedly-scrutinizing-voyager-digital-marketing-complex-sbf-ties-come-to-light\/#%E2%80%9D_FDIC_reportedly_scrutinizing_Voyager_Digital_marketing_complex_SBF_ties_come_to_light_%E2%80%9C\" >&#8221; FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FDIC_reportedly_scrutinizing_Voyager_Digital_marketing_complex_SBF_ties_come_to_light_%E2%80%9C\"><\/span>&#8221; FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvM2Q0OWIwZDEtYzE1MC00YTkzLTg5ZjUtOGUyZDE0YzVlZjc2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Some Voyager Digital account holders were surprised when they discovered that their deposits did not have the protection they thought they did after the crypto brokerage and lender filed for bankruptcy Tuesday. This could mean additional consequences for Voyager Digital.\u00a0<\/p>\n<p>Voyager Digital filed for bankruptcy under Chapter 11, citing debts of up to $10 billion to 100,000 creditors in a crisis brought on after Singaporean hedge fund Three Arrows Capital (3AC) default on a loan of 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) a week earlier.<\/p>\n<p>According to Voyager Digital\u2019s website, \u201cYour USD is held by our banking partner, Metropolitan Commercial Bank, which is FDIC insured, so the cash you hold with Voyager is protected.\u201d The bank holds $350 million in Voyager Digital customers\u2019 deposits. <\/p>\n<p>The United States Federal Deposit Insurance Corporation (FDIC) insures accounts for up to $250,000 per depositor in case of the failure of the bank, the Metropolitan Commercial Bank explained in a statement, adding that the FDIC does not provide protection against Voyager Digital\u2019s failure or against the loss of cryptocurrency.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Statement from Metropolitan Commercial Bank about <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/FDIC?src=hash&amp;ref_src=twsrc%5Etfw\">#FDIC<\/a> insurance for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Voyager?src=hash&amp;ref_src=twsrc%5Etfw\">#Voyager<\/a> customers. Bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, I&#8217;m afraid. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3PMVYNZkQw\">pic.twitter.com\/3PMVYNZkQw<\/a><\/p>\n<p>\u2014 Frances Schadenfreude Cassandra (@Frances_Coppola) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Frances_Coppola\/status\/1543279013476683780?ref_src=twsrc%5Etfw\">July 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAccording to The Wall Street Journal on Thursday, unnamed sources said Voyager Digital depositors were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/fdic-scrutinizing-voyagers-marketing-on-safety-of-customer-deposit-accounts-11657212266?mod=latest_headlines\">expected<\/a> to receive all the cash from their accounts held in the bank eventually, as Voyager Digital promised. A source also told the newspaper that the FDIC was looking onto Voyager Digital\u2019s marketing.<\/p>\n<p><strong><em>Related: Circle looks to reaffirm commitment to transparency as USDC market share soars<\/em><\/strong><\/p>\n<p>Voyager Digital said its proposed reorganization plan foresaw that, subject to various contingencies, \u201ccustomers with crypto in their account(s) will receive in exchange a combination of the crypto in their account(s), proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Two most interesting things in the Voyager bankruptcy petition: <\/p>\n<p>(1) Voyager&#8217;s second largest exposure is to Alameda Research. So there&#8217;s some recycled capital. Voyager loans Alameda $377M, &amp; Alameda reloans Voyager $75M. Plus Alameda is Voyager&#8217;s largest shareholder (9.5%). 1\/<\/p>\n<p>\u2014 Adam Levitin (@AdamLevitin) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AdamLevitin\/status\/1544701682101223424?ref_src=twsrc%5Etfw\">July 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It was also noticed that Voyager Digital had a complex financial relationship with Alameda Research, which is backed by Sam Bankman-Fried. Alameda Research is simultaneously Voyager Digital\u2019s largest shareholder, second largest creditor at $377 million, and it owes Voyager Digital $75 million.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/fdic-reportedly-scrutinizing-voyager-digital-marketing-complex-sbf-ties-come-to-light\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FDIC reportedly scrutinizing Voyager Digital marketing; complex SBF ties come to light &#8220; Some Voyager Digital account holders were surprised when they discovered that their deposits did not have the protection they thought they did after the crypto brokerage and lender filed for bankruptcy Tuesday. This could mean additional consequences for Voyager Digital.\u00a0 Voyager&#8230;<\/p>\n","protected":false},"author":1,"featured_media":471745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvM2Q0OWIwZDEtYzE1MC00YTkzLTg5ZjUtOGUyZDE0YzVlZjc2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[4978,117],"class_list":["post-471744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/471744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=471744"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/471744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/471745"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=471744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=471744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=471744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}