{"id":132612,"date":"2023-02-03T14:45:26","date_gmt":"2023-02-03T14:45:26","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=132612"},"modified":"2023-02-03T15:31:33","modified_gmt":"2023-02-03T15:31:33","slug":"silvergate-is-the-latest-company-to-be-probed-over-ftx-and-almeda-case","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/silvergate-is-the-latest-company-to-be-probed-over-ftx-and-almeda-case\/","title":{"rendered":"Silvergate is the Latest Company to be Probed Over FTX and Almeda Case"},"content":{"rendered":"
FTX and Alameda Research are two of the biggest names in the crypto industry that fell from grace earlier this year. Now, Silvergate is joining them, according to Bloomberg<\/a>.<\/strong> <\/span><\/p>\n When FTX suddenly imploded last November, Silvergate was among the lenders that were hardest hit. As a result of the loss of $1 billion that the bank reported last quarter, 40% of its staff were laid off<\/strong>. As a result of Bankman-Fried’s collapse, a large amount of money was taken out in loans in order to stave off a run on the company’s deposits.<\/span><\/p>\n There are people who have asked not to be identified for the purpose of discussing a confidential investigation into Silvergate’s hosting of accounts linked to Sam Bankman-Fried’s businesses. In addition to the review, lawmakers have also been examining the La Jolla, California-based bank as a part of mounting scrutiny of the bank.<\/p>\n One of the biggest outstanding questions surrounding the FTX debacle has been answered by the investigation, which began several weeks ago and is still ongoing: What did banks and intermediaries working with Bankman-Fried’s firms know about what US officials have described as a scheme to defraud investors and customers over the past several years?\u00a0<\/span><\/p>\nContinued Domino Investigations<\/b><\/h2>\n