Several events are still unfolding following the collapse of FTX crypto exchange. The contagion from the exchange’s sudden collapse created panic among other crypto companies, especially those with exposure to the Sam Bankman-fried led exchange. Also, the shutdown of its sister company, Alameda Research, only added to the paranoia.
Silvergate Capital is one of the companies that is now in hot water, including Silvergate Bank and Silvergate Capital CEO Alan Lane, who are all facing a class-action suit for their connection with FTX.
Silvergate Capital is California-based Silvergate Bank’s parent company. The lawsuit was filed in the California Southern District Court.
FTX founder and former CEO Sam-Bankman-Fried l Image Source: Reuters
Silvergate Aided Fraudulent Actions Of FTX, Lawsuit Claims
The case accuses Silvergate for keeping FTX users’ deposits in Alameda’s bank accounts. Joewy Gonzalez was the plaintiff to file…
