Silvergate, a digital asset-focused investment bank, has come under detailed investigation by the US Department of Justice (DOJ) for its ties to FTX and Alameda Research.
According to a February 3 report by Bloomberg, which is based on people familiar with the matter, the fraud unit of the US Department of Justice has filed Silvergate with bankruptcy. FTX The stock exchange and its subsidiaries are under investigation. At the center of the investigation were the movements of accounts linked to Silvergate and Sam Bankman-Fried, the former CEO of FTX.
According to the first statement, Silvergate not yet charged with any crime however, investigators found that relations with FTX and Alameda how deep you go trying to discover.
In a statement made by the Silvergate front, which was cautious about the investigation, it was stated that the bank has a comprehensive compliance and risk management program.
After these developments Silvergate Capital (SI) Shares fell sharply after the market close on Thursday. within hours 28% depreciation share prices $15.06 as much as it declined.
On the other hand, Silvergate was heavily affected by the FTX collapse in November and in the financial reports it published in the last quarter. 1 billion dollars loss had reported. After the collapse of the SBF empire, the bank was plunged into a liquidity crisis 40%He laid off his job and announced that he had taken billions of dollars in loans.
US senators sent a letter to Silvergate management in December, requesting information about the company’s relationship with FTX and Alameda Research.