TechFlow news, according to Cointelegraph, a filing submitted on November 28 to the U.S. District Court for the Southern District of New York shows that federal judge Gregory Woods approved an order requiring cryptocurrency lending firm Voyager Digital and its affiliates to pay $1.65 billion in settlement to the U.S. Federal Trade Commission (FTC). As part of the agreement, Voyager will be "permanently restrained and enjoined" from marketing or offering products or services related to digital assets.
Under the settlement agreement, all parties associated with Voyager must cooperate with FTC officials, including testifying at hearings, trials, and during discovery. One year later, Voyager must also report on its compliance status and remain subject to oversight by the Commission.
According to the judge, the order will largely not affect the bankruptcy court proceedings. Voyager filed for bankruptcy protection in July 2022, disclosing between $1 billion and $10 billion in debt. In May this year, the court approved a plan allowing Voyager users to initially recover 35.72% of their claims.
