Silvergate Capital, the parent company of crypto-focused
Silvergate Bank, filed for Chapter 11 bankruptcy with listed assets between $100m and $500m and liabilities between $10m and $50m.
Silvergate Bank
settled with the SEC for allegedly helping facilitate fraud at
FTX. That month, the Federal Reserve dropped separate charges after it wound down, reimbursed customers, and ceased banking.
As part of its Chapter 11 bankruptcy, Silvergate's reorganization plan proposes fully paying several debts, including admin fees, taxes, and high-priority claims.
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