
California judge combines FTX-related Silvergate lawsuits
Lawsuits filed against Silvergate have been consolidated as all cases share allegations regarding the bank's role in supporting FTX in allegedly defrauding customers.
Lawsuits filed against Silvergate have been consolidated as all cases share allegations regarding the bank's role in supporting FTX in allegedly defrauding customers.
The Silicon Valley Bank will now need assistance from the Federal Deposit Insurance Corp. to have any hope of making its depositors whole, although even Federal Government assistance has limits.
Silvergate has been living on borrowed time since it failed to file its latest financial report with the U.S. Securities and Exchange Commission by the already extended deadline.
Wall Street Journal recently reported on internal communications that poke larger holes in Binance’s repeated assertions that the Binance.US exchange is an independent entity.
Silvergate notified the U.S. SEC that it wouldn't be filing the annual report on its fiscal health by March 16, insisting it "requires additional time" to fully diagnose its shortcomings.
A fresh slew of charges was brought against Sam Bankman-Fried, which was triggered after opening a bank account that he used to transmit and receive customer funds.
The New York-based Metropolitan Bank says it only had four active institutional digital asset clients who accounted for 1.5% of revenue and 6% of deposits.
Silvergate CEO Alan Lane slams “speculation and misinformation” on his firm's alleged instability following the FTX collapse, insisting that its customers' deposits remain accessible and safe.
First Digital Trust has raised $3 million from a Taiwanese venture capital firm to build its rapid settlement and clearing network which launches in May.
Silvergate Capital Corporation believes the time is right to get into the cryptocurrency loan business.