“In early March 2023, Silvergate made a responsible decision to liquidate voluntarily and without government assistance. As of November 2023, all deposits had been repaid to banking customers and Silvergate ceased banking operations soon after. The settlements announced today, which will facilitate the surrender of Silvergate’s bank charter, are part of the Bank’s continued orderly wind down and successfully conclude investigations by the Federal Reserve, DFPI and SEC,” the spokesperson mentioned in an emailed assertion.
Crypto-Friendly Silvergate Bank Pays $63M to Settle Charges With SEC, Fed, California Regulator
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