Here's How Silvergate is Reacting to Probe Over FTX & Alameda Accounts

Silvergate Capital Corp. is under intense scrutiny following the collapse of FTX and Alameda Research. Bloomberg reports that US prosecutors in the Justice Department’s fraud division are investigating Silvergate Capital Corp.’s links with collapsed crypto heavyweights FTX and Alameda.

The investigation, spearheaded by the United States Department of Justice fraud unit, is reportedly focused on Silvergate’s involvement with the bankrupt FTX exchange and its affiliated trading firm, Alameda Research. According to a recent report, the DOJ is currently probing Silvergate’s association with FTX and Alameda Research, specifically examining the bank's dealings with these fallen crypto giants.

(Reuters) - Federal prosecutors in Washington are probing Silvergate Capital Corp and its dealings with bankrupt crypto exchange FTX and Alameda Research. This news comes amidst increased regulatory pressure on cryptocurrency-related businesses.

😲 Silvergate faces DoJ investigation over its involvement with FTX and Alameda Research. While the crypto bank is not being charged, prosecutors believe there... questions surrounding the nature of the relationship and the due diligence performed.

Silvergate has maintained that it conducted thorough due diligence on its clients, including FTX and Alameda Research. However, US prosecutors in the Justice Department’s fraud unit are looking into Silvergate Capital Corp.’s dealings with fallen crypto giants FTX and Alameda Research to determine if any violations occurred. It should be noted that Silvergate wasn’t...

This page will be updated as more information becomes available regarding Silvergate's reaction and the ongoing Department of Justice investigation.