According to a report, Silvergate Bank, which is no longer operational, is facing three lawsuits from former investors who allege that the bank aided FTX, a now-bankrupt crypto exchange, in defrauding investors. The lawsuits have been consolidated by California Judge Jacqueline Scott Corley of the Northern District since they involve ...
Silvergate Bank, a former crypto-friendly bank, suffered significant liquidity problems due to the decline in cryptocurrency markets in 2022 and the collapse of the crypto exchange FTX. These events led to a significant outflow of funds, resulting in a $1 billion net loss for common shareholders during the last quarter ...
Questions are being asked about USDC stablecoin issuer, Circle's exposure to failed U.S. banks, Silvergate Bank and Silicon Valley Bank. This is because Circle published a USDC Reserve Report last week accompanied by an Attestation by the global Audit firm, Deloitte. That Report confirmed that Circle held cash with several ...
