Silvergate – Ƀitsell X

SEC, Fed Charge Silvergate for Misleading Investors, Failing to Monitor $1 Trillion in Transactions

July 3, 2024

The U.S. Securities and Exchange Commission (SEC), the Federal Reserve Board (FRB), and the California Department of Financial Protection and Innovation (DFPI) have taken action against Silvergate Capital Corp., the holding company for Silvergate Bank, and its former executives for misleading investors and failing to monitor significant transactions. Silvergate has agreed to pay penalties without…
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Today in Crypto: Stellar Buys Minority Stake in MoneyGram, Adidas and BAPE Reveal Limited Sneakers Auctioned via NFT Passes, Three Key Silvergate Execs Set to Leave the Company

August 17, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Stellar Buys Minority Stake in MoneyGram, Adidas and BAPE Reveal Limited Sneakers Auctioned via NFT Passes, Three Key Silvergate Execs Set to Leave the Company Read more »Sign…
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Silvergate CEO to depart amid ongoing liquidation and investor suits

August 16, 2023

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…
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Job Cuts at Silvergate as Crypto-Friendly Bank Winds Down After FTX Collapse

May 12, 2023

Silvergate Capital, the parent company of now-defunct crypto-friendly bank Silvergate Bank, has announced another major layoff that would impact 230 employees. In a recent filing with the Securities and Exchange Commission (SEC), the company said it would have just 80 employees left by the end of the week to manage the liquidation of its crypto-friendly bank…. Read…
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Fed, NYDFS assess their supervisory performance after March’s big bank failures

April 29, 2023

Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management. Bank regulators in the United States have turned from introspection to confession after the high-profile bank failures in March. The New York Department of Financial Services (NYDFS)…
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Today in Crypto: SG-FORGE Reveals the EUR CoinVertible Stablecoin, Three Silvergate FTX-related Lawsuits Combined, Voyager Strikes Deal with US Government to Sell Assets to Binance.US

April 20, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: SG-FORGE Reveals the EUR CoinVertible Stablecoin, Three Silvergate FTX-related Lawsuits Combined, Voyager Strikes Deal with US Government to Sell Assets to Binance.US Read more »Sign up for e-EUR…
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Multiple Silvergate lawsuits over alleged FTX ties combined by judge

April 20, 2023

Plaintiffs seeking damages from Silvergate’s collapse have joined forces with their respective lawsuits. A California judge has combined three investor lawsuits against defunct crypto bank Silvergate Bank involving the bankrupt crypto exchange FTX. On April 19, United States District Judge Jacqueline Scott Corley of the Northern District of California ruled that the three lawsuits would…
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Blockchain Association files further FOIA requests over banking closures

April 17, 2023

The crypto advocacy group wants clarity on recent regulatory action against digital asset-friendly banks. More Freedom of Information Act (FOIA) requests seeking information on recently closed crypto-friendly banks have been submitted by cryptocurrency advocacy group the Blockchain Association (BA) to two regulators. On April 14, the Association said that in addition to the FOIA requests,…
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Binance.US unable to find bank partners in the United States: Report

April 8, 2023

The United States arm of global crypto exchange Binance has been facing challenges in establishing a new bank partner. The United States arm of global crypto exchange Binance has been facing challenges in establishing a new bank partner to serve as a fiat on-ramp and off-ramps for its clients in the country, according to a…
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How the Federal Reserve Is Now Competing With Banks for Deposits: Enter the Reverse Repo Facility

April 4, 2023

The U.S. Federal Reserve could be competing with commercial banks due to a facility called the “overnight reverse repurchase agreement facility,” which has currently drawn in more than $2 trillion in deposits. According to analysts, this has affected bank deposits, as investors run to grab the higher yields it offers compared to traditional banks. The…
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