Stephen Ehrlich
Co-founder and CEO of the collapsed crypto lender Voyager Digital. In 2023 the CFTC and FTC sued him for fraud — alleging he falsely marketed Voyager as a 'safe haven' with FDIC-insured deposits. He settled in 2025 (civil), accepting bans and payments.
Also known as: Stephen Ehrlich
Note: Ehrlich faced civil (not criminal) charges and settled without the criminal findings seen in some other cases.
Bio
Stephen Ehrlich co-founded and led Voyager Digital, a crypto lending/trading platform that collapsed into bankruptcy in 2022 owing customers more than $1.7 billion. The CFTC alleged he fraudulently touted Voyager as a "safe haven" earning high yields while taking undisclosed, excessive risks with customer assets; the FTC alleged he falsely claimed customer accounts were FDIC-insured and "safe." [1][2]
Status
The CFTC and FTC filed parallel civil actions in October 2023. In 2025 Ehrlich settled — the FTC settlement included a $2.8 million payment and a permanent ban from marketing or selling retail crypto products, and the CFTC obtained disgorgement and a registration ban. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Sources (2)
See also
Luke BelmarIndividualsCryptocurrency influencer Luke Belmar (@lukebelmar on X) became the subject of controversy following allegations related to the promotion of a memecoin. Critics on social media alleged that Belmar used a series of posts referencing a forthcoming cryptocurrency project and a large-scale airdrop to generate interest in a token without explicitly identifying a specific contract address. Belmar published multiple posts discussing an upcoming memecoin, describing plans for what he characterized as a major airdrop and making comparisons to other cryptocurrency projects. Because no contract address was publicly provided, several tokens emerged claiming association with his statements. Critics alleged that this ambiguity enabled speculation around multiple tokens while avoiding a direct endorsement of any particular asset.
- Donald BasileIndividualsFounder behind Bitcoin Latinum (LTNM). The SEC charged him in 2026 with defrauding investors of ~$16M by falsely claiming the token was insured and asset-backed, and misappropriating funds for personal use (including a $160,000 horse).
This page was last updated on Jun 15, 2026. View revision history.