U.S. lawmakers are seeking details from Silvergate Bank regarding its ties to FTX and Alameda. Silvergate received a similar letter last year but couldn’t provide a satisfactory response. A group of Bipartisan U.S. Senators have brought Silvergate Bank under the spotlight for its relationship with bankrupt crypto exchange FTX and sister firm Alameda Research. Senators […]
Silvergate’s initial response was unsatisfactorywas sent to the bank by the Senators in December 2022. The lawmakers were not satisfied with Silvergate’s attempts to hold back details because it was “confidential supervisory information.”
Noting the bank’s involvement in FTX’s improper use of customer funds, the lawmakers have demanded answers to various questions pertaining to its risk management measures, due diligence process and accountability following the significant lapses.
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