Federal prosecutors in Washington are probing Silvergate Capital Corp and its dealings with bankrupt crypto exchange FTX and Alameda Research, according to a source familiar with the investigation.
Prosecutors in the Justice Department’s fraud section are involved in the criminal probe into the crypto-focused bank’s dealings, the source said. Scrutiny of Silvergate has been mounting in the wake of FTX’s collapse. Earlier this week, a bipartisan group of US senators sent a letter to Silvergate asking for details of its risk management practices and its dealings with FTX.
