According to TechFlow, on July 26, the Federal Reserve announced the termination of its enforcement actions against Silvergate Bank and its holding company, Silvergate Capital Corporation. Starting in May 2023, the action ensures that Silvergate will be liquidated and end its business in a way that protects depositors. Silvergate has completed its liquidation plan, repaid all customer deposits, and is no longer functioning as a bank.

Earlier news came that Silvergate's board of directors agreed to pay $63 million to settle charges from US and California regulators for failing to comply with anti-money laundering laws.