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

Silvergate Bank, once a cornerstone of the crypto financial world until its collapse in early 2023, defrauded its investors by lying about its anti-money laundering controls and misleading investors about how the fallout from the FTX collapse would affect it, the Securities and Exchange Commission says in a lawsuit. Also named in the suit were the company’s chief executive officer, chief risk officer, and chief financial officer.

Silvergate...