SEC strikes again and again
Silvergate Bank was fined $63 million for anti-money laundering loopholes, and was once a big player in the crypto world!
🔍 Silvergate Bank has a big fall! Silvergate Bank was fined $63 million for anti-money laundering (AML) loopholes and misleading statements! 💸
📉 Insider of the bank's collapse: Silvergate Bank voluntarily liquidated in 2023, but the Federal Reserve and California regulators did not buy it and fined 43 million and 20 million! 🚫
⚖️ SEC strikes: Silvergate Bank executives were accused of knowing but not reporting, the former CEO and COO were fined and suspended, and the CFO vowed to fight the law to the end! ⚔️
💣 FTX scandal: Silvergate failed to discover FTX's 9 billion suspicious transfers, an earthquake in the cryptocurrency world! 🌪️
📊 Industry warning: Silvergate's rapid rise and fall from a community bank to a crypto giant has sounded the alarm for the entire crypto financial circle! 🔔
