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US Senators Ramp Up Pressure on Crypto Bank Silvergate

In a letter, US senators press the bank to disclose more details in the FTX and Alameda Research case.

By Finst News
• 3 min read
US Senators Ramp Up Pressure on Crypto Bank Silvergate

In a letter, US senators are pressing the bank to disclose further details in the FTX and Alameda Research case.

In a January 30 letter calls on the two-party group of US senators to disclose more information about the bankrupt crypto exchange FTX. According to the document, the bank's answers so far have been evasive and incomplete. Notably the questions about the company's role in the transfer of FTX to Alameda Research. Members of Congress are demanding the two firms disclose connections and details about the misappropriations. Including Republican senators Roger Marshall and John Kennedy and Democrat Elizabeth Warren.

Investigation into Silvergate

The collapse of the crypto exchange tied to CEO Sam Bankman-Fried has also put Silvergate in hot water. The bank is currently under scrutiny to determine whether, as an FTX payments provider, it bears partial responsibility.

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