Silvergate addresses FTX’s exposure, reassure stakeholders

Silvergate CEO Alan Lane wrote a Dec. 5 public letter to reassure stakeholders that the firm employs the best due diligence process and has a robust risk management control. Silvergate addresses FTX, Alameda exposure Lane wrote that the financial institution conducted “significant due diligence on FTX and its related entities, including Alameda Research, both during…

What’s going on with Silvergate, the bank that props up the U.S. crypto market?

Earlier this week, cryptocurrency bank Silvergate announced that its exposure to FTX was limited to its deposits. The U.S. bank, which services the majority of the crypto industry in the country, said that it had no loans or investments in FTX. The bank’s statements managed to soothe the market, with its stock posting a slight…