Silvergate Capital Corporation cites the recent regulatory developments for its decision to liquidate the bank, while Signature stresses its ties in the asset space are limited to the U.S. dollar.
The fraud division of Department of Justice recently began scrutinizing Silvergate Bank for its dealings with SBF's FTX exchange and its affiliated market-maker Alameda Research, according to Bloomberg.
Silvergate cites the industry's "transformational shift" as the reason behind its massive losses in Q4, while Signature Bank appears to be distancing itself from Binance.
