Crypto Broker Voyager’s Marketing on Safety of Customer Accounts Draws FDIC Scrutiny
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Voyager Digital marketed its deposit accounts as safe, protected by the nation’s banking insurance system in the event of a failure. This week, when the company tumbled into bankruptcy, customers learned they didn’t exactly have the protection they expected. A banking regulator began an inquiry, according to a person familiar with the matter. The company's deposit accounts were supposed to be protected by banking insurance, a source says. It's not clear what happened to the deposit accounts, the source says, and the regulator has begun an inquiry into the account accounts, which is now being investigated by the U.S. Department of Financial Regulation. In the past, deposit accounts have been protected by an insurance system, the person says. The company says Source