US Senators Press Crypto Bank Silvergate on Ties to FTX: Bloomberg
TL;DR A group of U.S. senators is pushing Silvergate Capital to provide more details about its alleged connections to FTX, the collapsed crypto exchange, prompting a 4% increase in its stock price Tuesday.
A bipartisan group of U.S. senators is pushing Silvergate Capital (SI) to provide more details about what it knew about FTX’s alleged misuse of customer funds, according to a report in Bloomberg.
In a letter sent to Silvergate on Monday that was viewed by Bloomberg, the senators asked Silvergate about its connections to the collapsed crypto exchange, saying the firm’s previous responses to similar questions in December were “evasive and incomplete.”
The senators include Elizabeth Warren (D-Mass.), Roger Marshall (R-Kansas) and John Kennedy (R-La.).
Shares of Silvergate were up more than 4% in early trading on Tuesday, but have declined 88% over the past year.