CoinVoice has recently learned that according to an official announcement, the U.S. Federal Reserve announced on Friday that it would terminate its enforcement actions against California-based Silvergate Bank and its holding company Silvergate Capital Corporation.

The Commission’s enforcement action ensured that Silvergate Bank was liquidated and wound down in a manner that protected depositors as of May 2023. Since then, Silvergate Bank has completed its liquidation and winding-down plan, repaid all customers’ deposits, and is no longer operating as a bank. [Original link]