Silvergate Bank didn't adequately monitor $1 trillion in crypto transactions, SEC says
Briefly

Silvergate Bank defrauded investors by misleading about AML controls and financial condition post-FTX collapse, leading to a liquidity crisis, as per SEC lawsuit.
Silvergate's CFO engaged in a fraudulent scheme to mislead investors about the bank's financial state, understating losses from securities sales and lying in earnings reports, claims SEC.
Read at The Verge
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