Former acting comptroller of the currency joins Voyager Digital’s board
Voyager chair Philip Eytan cited Brian Brooks' experience at crypto companies and his leadership behind regulatory initiatives as reasons for the hire. Crypto trading platform Voyager Digital announced Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks has joined the firm’s board of directors.In a Monday announcement, Voyager chair Philip Eytan said Brooks had joined the board as an “independent, non-executive director,” citing the former comptroller’s experience at crypto companies and his leadership behind regulatory initiatives in the United States during his time at....
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President Joe Biden looks set to appoint another former crypto executive to head up the Office of the Comptroller of the Currency. According to the Wall Street Journal, a former member of Ripple’s board of advisors directors is likely to become the next Comptroller of the Currency.The report cites insiders “familiar with the matter” who expect President Biden to nominate former Treasury Department official, Michael Barr, to the top post overseeing national banks.The position as Comptroller of the Currency serves as the administrator of the federal banking system, and is the chief officer....
FTX is proposing to buy out all Voyager Digital digital assets and digital asset loans, except loans to Three Arrows Capital, which would remain Voyager Digital’s problem. FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX announced in a statement Friday. To accomplish this, Alameda Ventures said it would like to buy all Voyager digital assets and digital asset loans, with the exception of loans to Three Arrows Capital (3AC). A letter....
Some Voyager Digital customers did not understand the scope of FDIC protection for their deposits, leading to questions about the firm’s marketing. 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. 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....
Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s letter explains that Voyager’s FDIC claims are false and misleading, and the entity prohibits anyone from “representing or implying that an uninsured deposit is insured.”
FDIC Insists Voyager Digital Published Misleading and False Federal Deposit Claims
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Acting Comptroller of the Currency Brian P. Brooks is officially stepping down after eight months at the OCC. The head of the U.S. Office of the Comptroller of the Currency (OCC) Brian P. Brooks has officially announced that he is stepping down on January 14, 2021.In a statement dated January 13, the organization said that Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency, replacing Brooks who has served for eight months.Brian P. Brooks to Step Down, Blake Paulson to Become Acting Comptroller of the Currency on January 14, 2021....