SEC Sues Silvergate Over $1 Trillion Transactions and FTX Connection

Silvergate Bank, known for its crypto-friendly stance, faced legal action from the U.S. Securities and Exchange Commission (SEC) on Monday. The SEC’s lawsuit alleges that Silvergate failed to adequately monitor a vast volume of transactions, including those tied to the collapsed cryptocurrency exchange FTX. Former top executives of Silvergate, including the CEO, COO, and CFO,