Ex-Voyager CEO Stephen Ehrlich Given Trading Ban, Ordered To Repay $750K

ccn.comPubblicato 2025-09-16Pubblicato ultima volta 2025-09-16

Key Takeaways

Disgraced Voyager CEO Stephen Ehrlich has now settled lawsuits with the FTC and the CFTC.
In the latest CFTC settlement, Ehrlich agreed to repay $750,000 to Voyager creditors.
He also faces a three-year CFTC trading and registration ban.

The former CEO of the now-bankrupt Voyager Digital, Stephen Ehrlich, has been handed a three-year trading ban and ordered to pay a $750,000 disgorgement to Voyager customers.

Announcing the resolution on Monday, Sep. 15, the Commodity Futures Trading Commission (CFTC) said: “compensating victims and limiting a defendant’s ability to cause future harm” fall squarely within its mission.

Top Crypto Tax Accounting Software

CoinTracker

promotions

Trusted, Secure & Crypto Friendly

Coins

–

Claim Offer

TokenTax

promotions

Save 10% on TokenTax with multi-year purchases

Coins

–

Claim Offer

CoinLedger

promotions

Earn $100+ per referral who signs up with your link

Coins

–

Claim Offer

Stephen Ehrlich’s Downfall

When Voyager filed for Chapter 11 bankruptcy protection in July 2022, many balmed Ehrlich for the insolvency.

Under his leadership, the crypto hedge fund issued a series of risky loans, including 15,250 BTC and $350 million USDC that Three Arrows Capital (3AC) defaulted on.

The CFTC and the Federal Trade Commission (FTC) would later criticize Ehrlich for publicly reassuring customers that Voyager was well-capitalized, even as liquidity was deteriorating. Voyager’s depiction of investments as low-risk and secure also came under scrutiny.

In lawsuits filed in October 2023, both regulators accused the Voyager CEO of deceiving customers by issuing false statements.

Civil Fines Pile Up

The CFTC’s lawsuit charged Ehrlich with fraud and registration failures. Meanwhile, counts in the FTC’s litigation included misleading investors and making false or fraudulent statements to customers.

On June 27, 2025, Ehrlich settled the FTC charges, agreeing to a permanent ban on marketing or selling retail products or services used to buy, sell, deposit, or trade cryptocurrency.

He and his wife Francine were also ordered to pay a $2.8 million civil penalty.

A settlement with the CFTC was announced on Monday, Sep. 15. Under the terms of the agreement, Ehrlich agreed to pay a $750,000 disgorgement to Voyager customers, accepted a three-year ban from trading or registering with the CFTC, and was permanently enjoined from violating anti-fraud provisions of the Commodity Exchange Act.

Class Action Still Ongoing

Beyond regulatory enforcement, a class action lawsuit was filed on behalf of Voyager investors named Ehrlich alongside celebrity endorsers, Mark Cuban, Rob Gronkowski, Victor Oladipo, and Landon Cassill.

In May 2024, Gronkowski, Oladipo, and Cassill settled with the plaintiffs for $2.4 million. Ehrlich and Cuban continue to fight the litigation in court.

Visit Our Secure Partners

Was this Article helpful? Yes No

Crypto di tendenza

CitreaCTR

wrapped stUSDTWSTUSDT

Letture associate

Just Now, Sam Altman Blasts Dario Amodei as 'Anti-Human', Secret Model Exposed the Same Day

Just now, Sam Altman strongly criticized Dario (Amodei, co-founder of Anthropic), denouncing his "doomsday marketing" as "anti-human dictator rhetoric." This came alongside the accidental exposure of OpenAI's next-generation model, codenamed "gpt-nathree," hinting at the imminent release of GPT-6 Astra. The leak occurred when an OpenAI employee's public GitHub commit mentioned the codename. Combined with previous leaks of "gpt-mewfour," it suggests these are iterative checkpoints for OpenAI's upcoming agent model, Astra. Astra is known for multi-agent collaboration and long-duration task handling, having reportedly solved previously unsolved mathematical problems. Meanwhile, two new Anthropic model codenames, "claude-marshmallow-eap" and "claude-melon-eap," were also exposed but are believed to be iterations of the Claude 5 series, not a new flagship. In a wide-ranging podcast interview, Altman admitted he was wrong about the speed of AI-driven disruption, acknowledging societal inertia slows adoption. He fiercely criticized rivals' marketing that simultaneously promises immense benefits (like curing cancer) and warns of existential risk, calling it a dangerous "benevolent dictator" narrative that seeks to concentrate power. He emphasized that people are the ultimate purpose of AI. Altman also revealed OpenAI's unconventional, consensus-defying path: spending four and a half years in the "dark" without a public product before ChatGPT's breakthrough, driven by scaling laws rather than early customer feedback. He concluded that even with superintelligent AI, genuine human connection will remain irreplaceably valuable.

marsbit41 min fa

Just Now, Sam Altman Blasts Dario Amodei as 'Anti-Human', Secret Model Exposed the Same Day

marsbit41 min fa

Robinhood Chain's On-Chain Landscape Heats Up Again, $PONS Becomes the Cheapest High-Revenue Token

Robinhood Chain's token launchpad Pons ($PONS) has emerged as an outlier among high-revenue crypto tokens. According to Blockworks Research data, $PONS ranked 13th in revenue generation over the past 30 days, yet it holds the lowest FDV/revenue multiple at just 0.7x among the top 15 revenue-generating tokens. This stands in stark contrast to competitors like Pump.fun (7.7x), Aave (45.2x), and Chainlink (212.2x). Pons, often compared to pump.fun, is a non-custodial launchpad on Robinhood Chain. Its V2 upgrade introduced a bonding curve mechanism, with a portion of protocol fees directed to creators and the remainder constituting protocol revenue. Crucially, approximately 80% of this revenue is used to buy back and burn $PONS tokens, leading to a nearly 30% reduction in total supply to date. Despite this aggressive deflationary mechanism and significant revenue, the market prices $PONS conservatively. This skepticism stems from concerns over the quality and sustainability of its revenue, with some users questioning the potential impact of wash trading on reported figures. While supply continues to shrink, broader market recognition and a valuation multiple closer to peers will likely depend on sustained verification of genuine, high-quality protocol income.

marsbit50 min fa

Robinhood Chain's On-Chain Landscape Heats Up Again, $PONS Becomes the Cheapest High-Revenue Token

marsbit50 min fa

The 'Saving U.S. Treasuries' Baton Pass: Bessent Fumbled Last Week, This Week It's Wash's Turn

"Rescuing US Treasuries" Relay: After Bessent's Miss, All Eyes Are on Walsh Last week, US Treasury Secretary Bessent's announcement to at least double long-term Treasury buybacks failed to sustainably lower yields, which quickly rebounded. The market response saw a drop in the dollar alongside surges in gold and Bitcoin, interpreted as a "pressure release valve" for anxiety. The focus now shifts to Fed Chairman Walsh's upcoming Jackson Hole speech. Markets are highly sensitive to his message, seeking clarity on the Fed's policy response to stubborn inflation and worsening fiscal conditions. Analysts warn that a lack of new guidance could disappoint markets and worsen the sell-off in long-dated bonds. Analysts question the scale of Bessent's operations, noting they are too small relative to the overall debt market and do not constitute quantitative easing. A key issue is the Fed's massive holdings of long-term bonds, which distorts the market. With the Fed holding low-yielding short-term bonds that are losing money relative to its policy rate, discussion is growing around a potential Fed-led "Operation Twist." This would involve selling short-term bonds to buy long-term ones, aiming to lower long-end yields without expanding the balance sheet. The upcoming PCE inflation data will set the stage for Walsh's speech. However, the window for action is narrowing amid political pressures. A critical threshold is the 30-year yield at 5%; holding above it could increase stress on the dollar and leveraged sectors. Overall, the article suggests that without coordinated Fed action to anchor inflation expectations, Treasury interventions may ultimately fail, with investors increasingly looking to assets like gold as hedges.

marsbit1 h fa

The 'Saving U.S. Treasuries' Baton Pass: Bessent Fumbled Last Week, This Week It's Wash's Turn

marsbit1 h fa

Hyperliquid's Compliance Journey: From Permissionless to Permissioned via HIP-3

Hyperliquid’s Compliance Path: From Permissionless to Permissioned HIP-3 Hyperliquid currently blocks U.S. access because its permissionless, on-chain infrastructure conflicts with U.S. market structure laws, which restrict futures trading to registered exchanges, clearinghouses, and brokers. Through its Hyperliquid Policy Center (HPC), the project is advocating for regulatory modernization, proposing that regulated entities be allowed to build products on HyperCore (its exchange and clearing layer) while fulfilling their compliance obligations. The platform’s modular stack separates roles like a traditional exchange (DCM), clearinghouse (DCO), and broker (FCM), but reconstructs them on-chain with code. This enables permissionless access, self-custody, and 24/7 global trading, but clashes with U.S. rules requiring KYC, specific margin models, and custodial arrangements. To resolve this, HPC is engaging with U.S. regulators (CFTC, SEC) to seek clarity that deploying on-chain software does not itself trigger licensing, and to establish exemptions allowing non-custodial wallets to route users to regulated derivatives. Recent political signals suggest openness to this approach. On the technical side, Hyperliquid Labs has introduced permissioned HIP-3 deployers on testnet. These allow regulated entities to launch markets, perform KYC, and whitelist compliant users. While these create separate order books, whitelisted market makers can bridge liquidity between them, ensuring deep, shared liquidity across the same L1. Features like payload-based “PA” permissions enable DEX-level account controls (e.g., reduce-only orders), mirroring traditional broker authorities. The strategy is not to open the native, permissionless front-end to U.S. users, but to position Hyperliquid as neutral infrastructure that U.S. regulated firms can use while meeting their legal duties. This paves a compliant path for U.S. investor access while preserving the protocol’s core, permissionless nature.

marsbit1 h fa

Hyperliquid's Compliance Journey: From Permissionless to Permissioned via HIP-3

marsbit1 h fa

Two Funding Rounds in Three Months: The Chinese Version of Palantir is on Fire

Investment Community AI has learned that Beijing Zhongshu Ruizhi Technology Co., Ltd., a domestic industrial-grade causal intelligence and high-reliability decision-making AI company, has recently completed a strategic financing round worth hundreds of millions of RMB. This round saw participation from China Internet Investment Fund, Suzhou Chuangtou National Social Security Fund, Financial Street Capital, ICBC Capital, Kunlun Capital, among others, with existing shareholders also increasing their investment. This follows a Series B funding round in the hundreds of millions completed just three months prior. The rapid succession of two major funding rounds signifies strong market recognition of the company's underlying original technology and scaled commercial implementation. Often referred to as the "Chinese version of Palantir," Zhongshu Ruizhi is entering a new phase of accelerated technological iteration, widespread scenario replication, and scaled performance release, mirroring the explosive growth of China's AI market. Founded in April 2020 by Dr. Han Han, a Tsinghua University Ph.D. and former core drafter of national AI policies, the company is mission-driven to "move AI from the digital world to the physical world." It focuses on the high-reliability, strong-decision industrial AI track and enterprise-grade AI Agent full-stack infrastructure. The team tackles the challenge of applying AI to China's vast and complex industrial and energy systems by developing a new intelligent operating system from scratch. Its core technological breakthrough lies in three proprietary底层 technologies: meta-causal cognitive theory, causal models, and a dynamic ontology engine. These address critical pain points of generative large models in industrial settings—such as AI hallucinations, insufficient reasoning, lack of temporal logic, unverifiable decisions, and multi-source rule conflicts—thereby providing trustworthy, explainable, and executable智能决策 capabilities. Commercially, Zhongshu Ruizhi has achieved scaled deployment, serving over 50 central state-owned enterprises and industrial groups in sectors like power, petroleum, and aerospace, with implementations in more than 800 highly complex production scenarios. The company reported doubled revenue in 2025, demonstrating strong self-sufficiency and a viable business model—a rarity among new-generation AI firms. The latest funds will be allocated towards advancing foundational theoretical research, replicating successful application models to expand market presence (including overseas), and attracting top-tier talent. Lead investor China Internet Investment Fund highlighted that in the current shift from general AI capability contests to deep industrial empowerment, industrial-grade causal intelligence is crucial for building China's modern digital foundation and fostering new quality productive forces. They expressed support for the company's efforts to define decision-making paradigms and trustworthy standards for industrial intelligence, aiming to secure a rule-making voice in the global physical AI arena.

marsbit1 h fa

Two Funding Rounds in Three Months: The Chinese Version of Palantir is on Fire

marsbit1 h fa

Trading

Spot

Articoli Popolari

Come comprare BAN

Benvenuto in HTX.com! Abbiamo reso l'acquisto di Comedian (BAN) semplice e conveniente. Segui la nostra guida passo passo per intraprendere il tuo viaggio nel mondo delle criptovalute.Step 1: Crea il tuo Account HTXUsa la tua email o numero di telefono per registrarti il tuo account gratuito su HTX. Vivi un'esperienza facile e sblocca tutte le funzionalità,Crea il mio accountStep 2: Vai in Acquista crypto e seleziona il tuo metodo di pagamentoCarta di credito/debito: utilizza la tua Visa o Mastercard per acquistare immediatamente ComedianBAN.Bilancio: Usa i fondi dal bilancio del tuo account HTX per fare trading senza problemi.Terze parti: abbiamo aggiunto metodi di pagamento molto utilizzati come Google Pay e Apple Pay per maggiore comodità.P2P: Fai trading direttamente con altri utenti HTX.Over-the-Counter (OTC): Offriamo servizi su misura e tassi di cambio competitivi per i trader.Step 3: Conserva Comedian (BAN)Dopo aver acquistato Comedian (BAN), conserva nel tuo account HTX. In alternativa, puoi inviare tramite trasferimento blockchain o scambiare per altre criptovalute.Step 4: Scambia Comedian (BAN)Scambia facilmente Comedian (BAN) nel mercato spot di HTX. Accedi al tuo account, seleziona la tua coppia di trading, esegui le tue operazioni e monitora in tempo reale. Offriamo un'esperienza user-friendly sia per chi ha appena iniziato che per i trader più esperti.

714 Totale visualizzazioniPubblicato il 2024.12.11Aggiornato il 2026.06.02

Discussioni

Benvenuto nella Community HTX. Qui puoi rimanere informato sugli ultimi sviluppi della piattaforma e accedere ad approfondimenti esperti sul mercato. Le opinioni degli utenti sul prezzo di BAN BAN sono presentate come di seguito.