Tag: Alan Lane

SEC Charges Former Silvergate Executives for Misleading Investors on Compliance and Financial Health Amid FTX Collapse!

Crypto Compliance Ben - July 2, 2024

The U.S. SEC)has brought charges against Silvergate Capital Corporation, its former CEO Alan Lane, and former CRO Kathleen Fraher for allegedly misleading investors about the robustness of their AML compliance program and the monitoring of crypto customers, notably FTX. Additionally, the SEC has charged Silvergate and its former CFO (CFO), Antonio Martino, with providing false information regarding the company's financial losses.

Beleaguered Crypto Bank Silvergate Reduced Workforce By 40%!

Crypto Charlene Lensburg - January 13, 2023

Silvergate Bank, a state-chartered bank specializing in providing financial infrastructure to the crypto industry, filed a WARN Act on job cuts that reduced its workforce by 40%, The San Diego Union Tribune reports. To reset its business after a massive run on deposits last quarter, crypto-bank Silvergate has slashed 181 jobs at its local headquarters. The bank was most recently in the spotlight during the collapse of the crypto exchange FTX, for which it handled extensive FIAT transactions.

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