FTX’s Crash: Silvergate Bank’s Collapse
Uncover the shocking details of Silvergate Capital’s fines by the SEC and Federal Reserve for misleading investors and violating anti-money laundering rules. Learn how Silvergate allegedly failed to monitor $9 billion in suspicious FTX transfers and misled investors about its liquidity after a $8.1 billion bank run following FTX’s collapse. Dive into the full story of regulatory actions, Silvergate’s downfall, and the impact on the crypto industry. Stay informed for more updates on financial regulations, crypto scams, and investor criminality.
For a detailed analysis of Sam Bankman-Fried’s massive FTX fraud go here now.
Why This Matters:
This video sheds light on the hidden relationship between Silvergate Bank and Sam Bankman-Fried’s FTX, that caused the run on the Bank by deposit customers, including Silvergate’s $1 billion loss and closure.
Video Chapters:
0:00 – Introduction
0:33 – Class Action Lawsuit Against Silvergate Capital
0:51 – Silvergate Exchange Network
01:29 – FTX Crypto Exchange Creation
01:41 – Silvergate Exchange Network’s Massive Volume
02:36 – Silvergate’s Strong Incentive to Bank FTX
03:22 – FTX’s Accounts at Silvergate Bank Mercury in Americans’ Blood
03:42 – FTX’s Accounts for Shell Entity North Dimension, Inc.
04:29 – Silvergate’s CEO Lane was Aware of FTX’s Transactions
05:59 – FTX Files Bankruptcy
06:16 – Massive Loans to FTX Executives
06:46 – $8.9 Billion in FTX Customer Funds Missing
06:58 – FTX’s Sam Bankman-Fried Arrested
07:07 – Run on Silvergate Bank’s Customer Deposits
08:31 – Silvergate’s CEO Lane Receives No Jail Time
