The Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System (Board of Governors) issued a joint letter (Joint Letter) on June 28, 2023, to Voyager Digital, LLC and its related entities (Voyager), alleging violations of Section 18(a)(4) of the Federal Deposit Insurance Act (FDI Act) by Voyager for making false and misleading statements about its deposit insurance status.1 The FDIC further alleged that Voyager’s conduct resulted in the inability of certain customers who relied on Voyager’s alleged misrepresentations to immediately access their funds.
FDIC Issues Cease and Desist Letter to Voyager Digital, LLC; Fact Sheet on Deposit Insurance and Cryptocurrency
