{"id":73550,"date":"2023-02-03T14:15:40","date_gmt":"2023-02-03T12:15:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73550"},"modified":"2025-09-09T14:45:49","modified_gmt":"2025-09-09T11:45:49","slug":"us-authorities-to-probe-silvergates-ties-to-ftx-and-alameda-research","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/us-authorities-to-probe-silvergates-ties-to-ftx-and-alameda-research\/","title":{"rendered":"US authorities to probe Silvergate&#8217;s ties to FTX and Alameda Research"},"content":{"rendered":"<p>The US Department of Justice&#8217;s Fraud Section is examining Silvergate&#8217;s dealings with the cryptocurrency exchange FTX and the associated hedge fund Alameda Research. This was reported by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-02\/silvergate-faces-doj-fraud-probe_over-ftx-and-alameda-dealings\">Bloomberg<\/a>, citing its own sources.<\/p>\n<p>According to the publication, prosecutors are examining bank accounts linked to the exchange&#8217;s founder Sam Bankman-Fried. The investigation is at an early stage and Silvergate has not been charged with any wrongdoing.<\/p>\n<p>The bank said it is reviewing FTX and Alameda Research transactions. Alameda opened an account with them in 2018, before the exchange was founded.<\/p>\n<p>The financial institution noted that both companies underwent checks during the registration process and as part of annual monitoring.<\/p>\n<p>Silvergate is mentioned in the <a href=\"https:\/\/forklog.com\/en\/news\/apple-google-and-amazon-among-ftx-creditors\">list of creditors<\/a> of the bankrupt Bitcoin exchange. As of writing, the amount invested remains unknown.<\/p>\n<p>According to court documents, FTX executives provided the <a href=\"https:\/\/forklog.com\/en\/news\/ftx-ceo-accuses-former-leadership-of-favouring-alameda-research\">preferences for Alameda Research<\/a>. The exchange&#8217;s client assets were transferred to Alameda <a href=\"https:\/\/forklog.com\/en\/news\/caroline-ellison-manipulated-the-ftt-price-on-orders-from-sam-bankman-fried\">to cover the hedge fund&#8217;s losses<\/a>.<\/p>\n<p>Earlier, Senators Elizabeth Warren, John Kennedy and Roger Marshall urged Silvergate CEO Alan Lane to provide <a href=\"https:\/\/www.warren.senate.gov\/oversight\/letters\/warren-marshall-kennedy-call-on-silvergate-bank-that-handled-bankrupt-crypto-firm-ftxs-funds-to-release-all-records-on-improper-transfer\">\u043f\u043e\u0434\u0440\u043e\u0431\u043d\u0443\u044e \u0438\u043d\u0444\u043e\u0440\u043c\u0430\u0446\u0438\u044e \u043e \u0441\u0432\u044f\u0437\u044f\u0445 \u0431\u0430\u043d\u043a\u0430<\/a> and FTX.<\/p>\n<p>Back in late 2022, Silvergate faced a <a href=\"https:\/\/forklog.com\/en\/news\/silvergate-bank-faces-class-action-suit-over-ftx-and-alameda-research\">class-action lawsuit<\/a> over an alleged role in transferring FTX users&#8217; deposits to Alameda Research accounts.<\/p>\n<p>In January 2023, federal prosecutors seized more than <a href=\"https:\/\/forklog.com\/en\/news\/u-s-prosecutors-seize-nearly-700-million-from-sam-bankman-fried\">more than $6 million<\/a> held on three accounts at Silvergate opened in the name of the Bahamian subsidiary of the exchange, FTX Digital Markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Department of Justice&#8217;s Fraud Section is investigating Silvergate&#8217;s dealings with the cryptocurrency exchange FTX and the associated hedge fund Alameda Research.<\/p>\n","protected":false},"author":1,"featured_media":73551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,1236,1683],"class_list":["post-73550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-ftx","tag-silvergate-bank"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73550"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73550\/revisions"}],"predecessor-version":[{"id":73552,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73550\/revisions\/73552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73551"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}