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.”
A spokesperson for the bank said that "Silvergate operates a robust compliance and risk management program. In accordance with its risk management policies and procedures, Silvergate conducted significant due diligence on FTX and its related entities, including Alameda Research."
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