The US Securities and Exchange Commission (SEC) has sued Silvergate Capital Corporation, accusing the crypto-friendly bank of facilitating fraud at the now-defunct FTX exchange. The SEC alleges that Silvergate, its former CEO Alan Lane, and ex-Chief Risk Officer Kathleen Fraher misled investors about the robustness of its anti-money laundering program and its monitoring of crypto customers like FTX. The regulator also charged former CFO Antonio Martino with misleading investors about the company's losses following FTX's collapse. All parties, except Martino, have agreed to settle with the SEC.