Golden Finance reported that the US SEC announced that Silvergate agreed to pay a $50 million civil penalty without admitting or denying the charges. The SEC said it would also accuse Silvergate and its former CFO of misleading investors about expected securities sales losses after the collapse of the crypto exchange FTX. All accused parties except the former Silvergate CFO agreed to settle. As previously reported, according to a case record on Monday, the SEC sued the bank in Manhattan Federal Court for "securities fraud." Several former Silvergate executives were listed as defendants.