The Voyager unsecured creditor committee asked SBF to testify remotely on February 23
On February 19, the representative of the unsecured creditor of Voyager has asked Sam Bankman-Fried (SBF), the former chief executive of FTX, and some senior executives of FTX and Alameda Research to provide documents, and asked SBF to testify remotely next week.
Interpretation of this information:
The recent news of the request made by the representative of the unsecured creditor of Voyager to Sam Bankman-Fried (SBF), former CEO of FTX, and some senior executives of FTX and Alameda Research to testify remotely next week and provide documents, has stirred up a frenzy among cryptocurrency enthusiasts.
The unsecured creditor seems to be probing into FTX’s alleged involvement in Voyager’s downfall. It is believed that FTX was an integral part of Voyager’s growth and eventual fall. Voyager was purportedly the first cryptocurrency brokerage platform that offered commission-free trading to its users, with a marketing campaign of high yields for staking its native crypto (VGX). However, its co-founder, Stephen Ehrlich, resigned abruptly, and the company’s stock dropped. This followed Ehrlich’s announcement of Voyager heading for profitable quarters, which was not the case.
The suspicion of FTX’s alleged collusion in Voyager’s fall comes from the involvement of the FTX CEO, Sam Bankman-Fried, as an advisor to Voyager. The fact that the request was made by the unsecured creditor increases the scrutiny of how FTX was involved in all that happened with Voyager. The role FTX played in the downfall of Voyager remains to be seen, and this request could be the starting point for investigators to unravel the mystery behind the fiasco.
In conclusion, the request by the unsecured creditor to SBF, and other senior executives of FTX and Alameda Research, to provide documents and testify remotely next week strengthens the suspicion of FTX’s involvement in Voyager’s downfall. It is eagerly awaited how the investigation will unfold and the subsequent disclosure of FTX’s role in the fiasco.
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