Former Silvergate Bank CTO and Trump’s ‘Crypto Czar’ David Sacks Speak Out on Operation Choke Point
Operation Choke Point 2.0, a campaign of regulatory pressure against cryptocurrency firms, has sparked a fresh wave of criticism from notable industry figures, including former Silvergate Bank Chief Technology Officer Chris Lane and entrepreneur David Sacks, recently appointed “Crypto Czar” by President-elect Donald Trump. Operation Choke Point 2.0 Under Fire from Industry Voices and Trump’s […]
Silvergate Capital files for Chapter 11 bankruptcy in Delaware
The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million.This post was originally published on this site
Federal Reserve Board drops enforcement action against Silvergate
Silvergate Bank, a former crypto-friendly bank, collapsed in March 2023 due to the fallout created by the implosion of the FTX exchange.This post was originally published on this site
SEC, Fed Charge Silvergate for Misleading Investors, Failing to Monitor $1 Trillion in Transactions
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 […]
SEC files lawsuit against FTX-linked bank, alleging fraud
Enforcement director Gurbir Grewal said Silvergate allegedly “failed to detect nearly $9 billion in suspicious transfers among FTX and its related entities.”This post was originally published on this site
SEC files lawsuit against FTX-linked bank, alleging fraud
Enforcement director Gurbir Grewal said Silvergate allegedly “failed to detect nearly $9 billion in suspicious transfers among FTX and its related entities.”This post was originally published on this site
Binance sold USDC for BTC and ETH after Silvergate Bank collapse: PoR report
Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call.This post was originally published on this site
Fed board issues order to Silvergate Bank as part of self-liquidation plan
Silvergate Capital Corporation and its crypto-friendly bank will have 10 days to submit a self-liquidation plan in compliance with California and federal requirements.This post was originally published on this site
Multiple Silvergate lawsuits over alleged FTX ties combined by judge
Plaintiffs seeking damages from Silvergate’s collapse have joined forces with their respective lawsuits. This post was originally published on this site
How the Federal Reserve Is Now Competing With Banks for Deposits: Enter the Reverse Repo Facility
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 […]