Silvergate Capital Corporation, the parent company of the US crypto-friendly bank Silvergate, recently filed for bankruptcy under Chapter 11 of the Delaware Bankruptcy Code. The bankruptcy application shows that the company’s assets range from US$100 million to US$500 million, and its liabilities are US$1,000. Between 10,000 and 50 million US dollars. (Previous summary: FTX bankruptcy brought down the bank" Silvergate "deceived customers" and settled a $63 million fine with the Federal Reserve and SEC) (Background supplement: Silvergate fulfilled its promise to repay the money! Nine months after the storm, it announced that "it has been repaid in full" Deposits") According to a report by "Financefeeds" today (19th), Silvergate Capital Corporation, the parent company of crypto-friendly bank Silvergate, has filed for bankruptcy under Chapter 11 of the Delaware Bankruptcy Code. The company has assets ranging from $100 million to $500 million and liabilities ranging from $10 million to $50 million, documents show. The Bankruptcy of Silvergate Bank Silvergate's troubles began in 2023. Against the background of many bad news and the continued decline of stock prices, Silvergate Capital announced in March 2023 that it would orderly close the bank (Silvergate Bank) business and conduct voluntary liquidation in accordance with regulatory procedures. assets. Silvergate Bank was known for its strong ties to the cryptocurrency industry, but its reputation and customer confidence took a nosedive following the collapse of FTX. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Silvergate Capital in July last year, accusing the bank of assisting FTX in committing fraud. Ultimately, Silvergate Capital agreed to pay a $63 million fine to settle with the Federal Reserve, the California Department of Financial Protection and Innovation (DFPI), and the SEC. Unfortunately, more than a year later, it still cannot escape the fate of total bankruptcy. Company executives were indicted one after another by the SEC, Federal Reserve, and DFPI in addition to alleging that Silvergate misled investors and the public about the effectiveness of its Bank Secrecy Act/anti-money laundering program. The SEC also brought charges against former Silvergate executives, including former CEO Alan Lane and former chief operating officer Kathleen Fraher, who have agreed to settle, and former chief financial officer Antonio Martino. (Antonio Martino) denied the relevant accusations. Silvergate, Lane and Friel have agreed to settle without admitting or denying the SEC's allegations.They will pay fines, and Lane and Friel accepted a five-year ban from serving as an officer or director of any public company. The fines include $430,000 from the Federal Reserve and $200,000 from California regulators. The SEC's complaint highlights: Silvergate failed to detect nearly $900 million in suspicious transfers involving its primary client, FTX. Related reports FTX bankrupted and brought down the bank》Silvergate "deceived customers" and settled a $63 million fine with the Federal Reserve and SEC. Silvergate fulfilled its promise to pay back the money! Nine months after the thunderstorm, he announced that "the deposit has been repaid in full" with only 400 yuan left. He suffered a "delivery default". How terrible is credit bankruptcy? Serious fear of going to jail "Aftermath of FTX Bankruptcy" Crypto-Friendly Bank Silvergate's Parent Company Files for Bankruptcy> This article was first published in BlockTempo "Dongqu Dongzhi - the most influential blockchain news media".