📢 Attention! The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Silvergate Capital Corporation, the parent company of a cryptocurrency-friendly bank, accusing it of facilitating fraud on the defunct FTX exchange.

According to the SEC, Silvergate failed to detect nearly $9 billion in suspicious transfers between FTX and its related entities, resulting in large losses for investors. Silvergate has agreed to pay a $50 million civil penalty without admitting or denying the allegations.

This case highlights the importance of transparency and regulation in the world of cryptocurrencies. What do you think? Share your opinion in the comments. 🚀

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