‘It’s Ruined Me’: Voyager Customers Fear Life Savings Gone After Crypto Firm’s Bankruptcy

‘It’s Ruined Me’: Voyager Customers Fear Life Savings Gone After Crypto Firm’s Bankruptcy

2 years ago
Anonymous $0BkBa0cUPa

https://www.vice.com/en_us/article/g5vgqw/its-ruined-me-voyager-customers-fear-life-savings-gone-after-crypto-firms-bankruptcy

When Jeffery Cosey, a 37-year-old personal banker in Lansdale, Pennsylvania, first heard about the U.S. crypto brokerage and lender Voyager, he thought it sounded like a better place to keep his money than a traditional bank.

The company had offered him a sign-up bonus, and Cosey appreciated the slick application and the high rate of return on deposits, especially compared to what normal banks could offer. He understood the inherent risks associated with the crypto industry, but felt reassured by the fact that the company was publicly traded in Canada and run by Stephen Ehrlich, a former executive at eTRADE. “They all seemed trustworthy. They all seemed legitimate, not sketchy or fly-by-night or risky,” he told Motherboard.