Silvergate Bank Faces Regulatory Heat Over Compliance Failures Post-FTX Collapse

Regulatory scrutiny is intensifying on Silvergate Bank after the collapse of the cryptocurrency exchange, FTX. The bank, which was instrumental in cryptocurrency transactions through its Silvergate Exchange Network (SEN), is facing significant penalties for compliance failures. Key agencies have levied fines against Silvergate, shedding light on substantial deficits in its compliance and monitoring systems. Silvergate