📢 Silvergate Capital Corporation, the parent company of a crypto-friendly bank, is facing a lawsuit from the SEC over allegations of facilitating fraud at the now-defunct FTX exchange. The SEC claims Silvergate and its former executives misled investors about its compliance program and monitoring of crypto customers. Silvergate has agreed to a $50 million civil penalty, while former CEO Alan Lane and ex-Chief Risk Officer Kathleen Fraher have agreed to pay $1 million and $250,000, respectively. Meanwhile, former CFO Antonio Martino is ready to fight back, calling the allegations "unfounded and irresponsible". Stay tuned for the next episode of Godzilla vs. Kong: SEC vs. Crypto! 🍿