Silvergate is losing its CEO Alan Lane and two other top executives as part of an ongoing wind-down of the once crypto-friendly bank. Silvergate CEO Alan Lane and two other key executives are set to depart from their positions amid a wind-down of the once crypto-friendly bank. Lane and the firm’s chief legal officer John…
Read more
The filing is the latest proposed class action in a string of lawsuits aimed at Silvergate over the last two months about its links with Sam Bankman-Fried and defunct crypto exchange FTX. Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)”…
Read more
Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the…
Read more
The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank. Alan Lane, the CEO of Silvergate, denied allegations that…
Read more
Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin.
Silvergate Purchases Diem Operations
…
Read more
