The US Federal Trade Commission (FTC) proposed making new updates on an artificial intelligence (AI) deepfake rule on February 16. The government agency said the proposed rule changes would protect users from AI impersonations. According to the ‘Rule on Impersonation of Government and Businesses’ document, AI deepfakes that impersonate businesses and governments could face legal…
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The settlement between the crypto lending firm and the FTC was first announced in October and does not resolve former CEO Stephen Ehrlich’s pending case with the CFTC. A federal judge has approved an order requiring crypto lending firm Voyager Digital and its affiliates to pay $1.65 billion in monetary relief to the United States…
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The U.S. Federal Trade Commission (FTC) has warned consumers that crypto deposits are not insured by the Federal Deposit Insurance Corporation (FDIC). “That money isn’t FDIC insured or protected if the crypto company goes under,” the agency cautioned. “If something happens, the government may not have an obligation to step in and help get your…
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The U.S. Commodity Futures Trading Commission (CFTC) charged the former CEO of bankrupt cryptocurrency lender Voyager Digital with fraud. The regulator accused Stephen Ehrlich and the company of luring investors with promises of high-yield returns while breaking derivatives rules. Ehrlich was also sued by the Federal Trade Commission (FTC). U.S. Commodities Regulator Takes Legal Action…
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Alex Mashinsky, the former CEO of Celsius Network, has filed a motion to dismiss the Federal Trade Commission (FTC) lawsuit against him. In the motion, Mashinsky argues the FTC has failed to allege he violated any laws or rules. His lawyers say the FTC is not entitled to monetary relief and cannot substantiate Mashinsky is…
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Just before the now-defunct crypto lender Celsius was charged by three U.S. federal regulators — the Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), and Federal Trade Commission (FTC) — its former CEO, Alexander Mashinsky, was arrested on fraud charges Thursday. A U.S. judge has set Mashinsky’s bail at $40 million and restricted…
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On Thursday, following the U.S. Securities and Exchange Commission (SEC) suing the insolvent crypto lender Celsius, the Federal Trade Commission (FTC) divulged a settlement with the firm and imposed a $4.7 billion fine for “duping consumers.” Nevertheless, the penalty will be deferred to enable Celsius to return its remaining assets to consumers in bankruptcy proceedings.…
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The former CEO of bankrupt crypto lender Celsius Network Ltd., Alex Mashinsky, has been charged with fraud by the U.S. Department of Justice (DoJ) and sued by three regulatory agencies over the company’s collapse. Apart from the DoJ, Celsius and Mashinsky are also facing a barrage of lawsuits and allegations from various U.S. agencies, including…
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The regulator said Celsius “squandered billions in user deposits” after “duping” customers into depositing funds. The United States Federal Trade Commission has issued a $4.7-billion fine against bankrupt crypto lender Celsius Network. However, the judgement will be suspended to “permit Celsius to return its remaining assets to consumers in bankruptcy proceedings.” According to the July…
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According to a court document filed recently in the Voyager Digital bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the marketing of the crypto firm. Like the U.S. Securities and Exchange Commission (SEC), the FTC has objected to Binance US purchasing Voyager’s assets. FTC’s Objection to Voyager’s Proposed Sale Plan Could Impact Bankruptcy…
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