Dogecoin proponent Mark Cuban faces class action lawsuit for promoting Voyager

Mark Cuban is hit by a lawsuit for misrepresenting crypto offerings and services by Voyager.
The billionaire entrepreneur has been quite active as a Dogecoin proponent and a promoter of Voyager.
Analysts evaluated the Dogecoin price trend and predicted a rally in the meme coin.

Ekta Mourya FXStreet

American billionaire entrepreneur Mark Cuban was slammed with a lawsuit for leveraging his years of experience to lure customers into investing their savings in Voyager’s services. Cuban is accused of promoting the bankrupt crypto brokerage firm Voyager Digital.

Also read: Dogecoin bulls push DOGE higher as on-chain activity explodes

Dogecoin proponent Mark Cuban faces legal trouble

Mark Cuban is popular as a crypto proponent, Dogecoin supporter and billionaire entrepreneur. Cuban is facing a class action lawsuit for promoting crypto product offerings of the bankrupt firm Voyager. The lawsuit alleges that Cuban leveraged his experience to motivate inexperienced customers to invest in Voyager’s crypto products.

The Moskowitz Law Firm filed a civil lawsuit against Cuban in the United States District Court in Southern Florida. The lawsuit alleges that Cuban misrepresented the firm on numerous counts, offering commission-free trading services. Alongside Stephen Ehrlich, CEO of Voyager Digital, Cuban’s comments motivated investors to pour capital into the Ponzi scheme.

The lawsuit reads:

Cuban and Ehrlich, went to great lengths to use their experience as investors to dupe millions of Americans into investing—in many cases, their life savings—into the Deceptive Voyager Platform and purchasing Voyager Earn Program Accounts (‘EPAs’), which are unregistered securities.

Cuban’s support for Voyager products resulted in multiple purchases by retail investors as Cuban referred to the platform as close to risk-free as you’re gonna get in crypto.

Post its bankruptcy filing, Voyager made progress and is now prepared to pay back customers. Once customers make a withdrawal request at Voyager, they can expect their money back in 5-10 business days. Customers are allowed to withdraw up to $100,000 via the app.

The company expects to start withdrawals on August 11. Clients with USD deposits will receive emails with more details about the withdrawal process before then. Once they make the withdrawal requests, they can expect their money in 5-10 business days. Customers can withdraw up to $100,000 via the app/ACH in a 24-hour period.

Analysts predict a Dogecoin price rally

Dogecoin resumed its uptrend amidst crypto market recovery. Analysts evaluated the Dogecoin price trend and predicted that DOGE is ready to breakout from $0.071. Crypto analysts at Altstreet Bet have a bullish outlook on DOGE.

DOGE-USDT price chart

Hasan, a crypto trader and analyst, predicted a Dogecoin price rally to $0.082 in the current uptrend. The trader shares Altstreet Bet analyst’s bullish outlook on the meme coin as the crypto market begins recovery.

DOGE Perpetual Futures Contract

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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