In our latest video release, I share the shocking update of the Voyager bankruptcy and the cryptocurrency bubble that led to it. I also warn investors to, prior to transferring funds to a brokerage, make sure they look for these clues that they are working with a reputable brokerage company.
Summary
1️⃣ The excitement in crypto has created a bubble; the correction began weeks ago.
2️⃣ Certain clients in Voyager’s brokerage were highly leveraged and could not pay their debt.
3️⃣ Voyager saw a problem ahead and froze investors’ funds.
4️⃣ Voyager recently announced its filing for bankruptcy, leaving a plethora of customers without their cash for months or even years.
Takeaways: As investors, watch for bubbles and do not follow the hype. Secondly, check the to ensure that your brokerage firm has the proper insurances to protect investors (FDIC and SIPC).
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