The bankrupt crypto lender is proposing a settlement with CEO Stephen Ehrlich and previous CFO Evan Psaropoulos that would see them pay US$1.3 million to US$2 million of personal assets, and up to US$20 million through directors and officers liability insurance, over their role in issuing a loan of about US$1 billion to collapsed crypto hedge fund Three Arrows Capital. (The Logic)

Talking point: The court filing disclosing the proposed settlement details how the decision to make the loan to the firm came about, a decision that contributed to the cascade of events that caused crypto prices to crash dramatically over the summer. A special committee investigation into Voyager, which was delisted from the Toronto Stock Exchange in August, found Voyager’s risk committee did not object to the loan despite the fact Three Arrows declined to provide detailed information about its balance sheet. Three Arrows announced it was considering declaring bankruptcy on June 15, three months after Voyager entered into a loan agreement with it. The special committee is recommending the settlement because it determined a lawsuit against the executives was unlikely to be successful.