WASHINGTON The U.S. Federal Trade Commission said it reached a settlement with bankrupt crypto company Voyager that will permanently ban it from handling consumers' assets.

The agency also said it is filing suit against the company's former CEO, Stephen Ehrlich, for falsely claiming that customers’ accounts were insured by the Federal Deposit Insurance Corporation (FDIC) and were safe, even as the company was approaching an eventual bankruptcy.

(Reporting by Kanishka Singh in Washington; Editing by Chris Reese)