Buy/Sell Crypto

Voyager CEO reportedly made $30M from stock sales


Voyager’s CEO Stephen Ehrlich made over $30 million when he sold the company shares when it was trading at its peak in 2021, CNBC reported Aug. 3.

According to CNBC’s report, Ehrlich sold 1.9 million shares between Feb. 9, 2021, and March 31, 2021, in eleven transactions. The transactions were worth $31 million.

It is “challenging to establish” the total amount Ehrlich made because of the “complex and opaque structure” of the firm, CNBC stated.

Ehlrich sold Voyager’s share near peak

Three of Ehrlich’s largest transactions, totaled 1.4 million shares and worth $19 million, were made in February 2021 and were connected to a $50 million secondary offering by Stifel Nicolaus.

Voyager’s share rose to as high as $26 in March 2021, coinciding with the bull run of flagship digital assets like Bitcoin (BTC) and Ethereum (ETH).

CNBC reported that Voyager’s share would later trade at an all-time high of “$29.86 a week after Ehrlich’s final sale on April 5, 2021.” However, the shares lost 41% of their value three weeks after this high.

Voyager canceled ASDP adoption

Voyager adopted the automatic securities disposition plan (ASDP) in December 2021. The policy is meant to impose a trading plan that prevents insiders and executives from gaining an undue advantage when trading their shares.

Ehrlich, however, canceled the policy less than a month later because he “felt it was in the best interest of the investors to withdraw the plan.”

Before ASDP was canceled, Voyager executives had not completed any trade under the policy.

Voyager and crypto market crash

Voyager was one of the crypto firms deeply affected by the recent crypto market crash. The crypto lending service provider filed for bankruptcy on July 6 after it revealed that Three Arrows Capital had defaulted on its loan.

Reports have also revealed that Voyager’s products were not insured by the Federal Deposit Insurance Corporation (FDIC). The federal agency has issued a statement warning the firm to desist from making such “false and misleading” claims.

Several US states have also opened investigations into the firm’s operation.

Posted In: Bitcoin, Bankruptcy

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits



Source

Tags

Share this post:

Share on facebook
Share on twitter
Share on pinterest
Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

THE ONE AND ONLY WAY TO MAKE MONEY IN AUTOMATIC EASILY!

Receive the whole procedure to be able to follow our signals in less than 2 minutes.

Follow Us

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

To access the VIP channel for free and enjoy the benefits of this exclusive channel, just follow these 3 steps:

1. Open a real account with one of our partner brokers necessarily through these links.

⚠️ Select Standard account

2. Make a deposit of at least €500 (€1000/2000 recommended) or more depending on your capital.

Double bonus as a gift! 🎁

        • 1st deposit: 50% bonus offered!
        • 2nd deposit: 20% bonus offered!

*The bonus will of course be added automatically after your deposit. ✅

3. Once done, you can send us the Screenshot of your deposit to support@signaltrading.cryptalite.com to receive the link of the VIP channel 🚀

(If you already have an account with these different brokers, you need to use another ID with another name + email).

Follow Us

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.