According to Odaily, the Federal Reserve has announced the termination of enforcement actions against Silvergate Bank and its holding company, Silvergate Capital Corporation, based in California. Since May 2023, the Federal Reserve's enforcement actions ensured that Silvergate Bank conducted its liquidation and closure in a manner that protected depositors. Since then, Silvergate Bank has completed its liquidation and closure plan, repaid all customer deposits, and ceased operations as a bank.