Skip to main content

Why a Crypto CEO's Stock Sales Are Facing Criticism

Author:
Publish date:
Video Rating:
TV-G
Video Duration:
47

Voyager Digital's CEO Steve Ehrlich cashed out over $30 million in shares in 2021. While that's not necessarily unusual, as executives take profits in their companies just like all investors, Ehrlich's company filed for bankruptcy earlier this summer.

CNBC reported that Ehrlich sold his shares near the stock’s all-time high, which was in the high $20’s range. Voyager was forced to file for bankruptcy earlier this year as crypto winter chilled sentiment.

Voyager applied for Chapter 11 bankruptcy in July. 

“This comprehensive reorganization is the best way to protect assets on the platform and maximize value for all stakeholders, including customers,” Ehrlich said in a press release. “Voyager’s platform was built to empower investors by providing access to crypto asset trading with simplicity, speed, liquidity, and transparency.

FULL VIDEO TRANSCRIPT:

This CEO managed to make millions before his company declared bankruptcy...Voyager's CEO Steve Ehrlich cashed out over $30 million in shares in 2021.

While that's not necessarily unusual or illegal, as executives take profits in their companies all time like typical investors, Ehrlich's company filed for bankruptcy earlier this summer. CNBC reported that Ehrlich sold his shares near the stock's all-time high, which was in the high $20s range.

Yet, Voyager was forced to file for bankruptcy earlier this year as crypto winter chilled sentiment, leaving their users’ money being locked on the platform. Since Voyager filed for bankruptcy protection, the company was approached by FTX’s Sam Bankman Fried to purchase assets, but that didn’t last long as Voyager claimed it was a low ball bid. What are your thoughts?

It’s your boy Ross Mac and that was the Crypto Minute on TheStreet. 

Related Videos