US state regulators are increasing scrutiny into Celsius and Voyager
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Securities regulators in Texas and Alabama are expanding their investigations into troubled crypto lending firms Celsius and Voyager, according to a Bloomberg report on Friday.
The two states are said to be examining whether Voyager and Celsius fully disclosed information on their loans and the creditworthiness of borrowers.
Joe Rotunda, director of enforcement at the Texas State Securities Board, told Bloomberg that the regulator is finding a lot of firms may not have adequately disclosed what they were doing with investors' funds, including the amount of risk they were taking and the type of transactions they were conducting.
Amanda Senn, chief deputy director at the Alabama Securities Commission, told the outlet that the regulator was investigating these companies and "trying to figure out what happened and why."
Senn added that the investigations were still in the initial stages, "but we have a responsibility on behalf of our investors in our states."
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