US Senators Press Crypto Bank Silvergate to Ties to FTX: Bloomberg

According to Bloomberg, a bipartisan group of U.S. Senators is pressing Silvergate Capital (SI), to give more information about its knowledge about FTX’s alleged misappropriation of customer funds.

Bloomberg viewed a Monday letter that Silvergate received from the senators asking about Silvergate’s connections to the defunct crypto exchange. Silvergate replied that its previous answers to similar questions in December were incomplete and evasive.

Senators Elizabeth Warren (D.Mass.) is among them. Roger Marshall (R.Kansas), and John Kennedy (R.La. ).

Silvergate shares were up by more than 4% on Tuesday morning, but they have fallen 88% in the past year.

Silvergate and Sen. Warren did not immediately respond to our request for comment.

Continue reading: Crypto Bank Silvergate Shares Drop 46% after $8.1B Withdrawal in Quarter Four Prompts 200 Job Losses

UPDATE (Jan. 31, 2015, 12 UTC) Updated with non-response by Silvergate and Sen. Warren’s offices.

By David Warsh

David Warsh is a leading expert in the field of cryptocurrency and blockchain technology. With over a decade of experience in the industry, he has a deep understanding of the intricacies of digital currencies and the potential they hold for revolutionizing various industries.