U.S. FDIC probes crypto lender Voyager marketing for deposit accounts Illustration shows Voyager Digital logo and representations of cryptocurrencies(Reuters) -The Federal Deposit Insurance Corporation is looking into Voyager Digital Ltd's marketing of deposit accounts for cryptocurrency purchases, an FDIC official said, confirming a report in the Wall Street Journal. Customers who assumed their deposits were insured by the FDIC learned otherwise after Voyager filed for bankruptcy and a banking regulator began an inquiry, the report said. https://on.wsj.com/3ygW7wE The FDIC official did not did not comment on details of the probe. The battered crypto brokerage and lender filed for bankruptcy last week, becoming the latest casualty of a drastic fall in cryptocurrency prices. Voyager said last week it had more than $110 million of cash and owned crypto assets on hand.

Source: Wall Street Journal July 08, 2022 00:01 UTC