US Senators request information on Silvergate dealings with FTX, NBC reports

U.S. Senator Elizabeth Warren and two of her Republican colleagues have sent a letter to Silvergate Capital CEO Alan Lane requesting more information about the bank’s relationship with FTX and Sam Bankman-Fried, NBC’s Gretchen Morgenson reports. The letter had stated that "In the weeks since FTX’s shocking collapse, new and disturbing allegations about the company’s business practices have continued to surface, including the reports that Mr. Bankman-Fried ‘secretly transferred some $10 billion of customer funds to his trading vehicle, Alameda Research,’ to fund ‘risky bets,’ violating both U.S. securities laws and FTX’s own terms of service. We are concerned about Silvergate’s role in these activities because of reports suggesting that Silvergate facilitated the transfer of FTX customer funds to Alameda." Shares of Silvergate Capital are down about 7% in pre-market trading at $22.45. Reference Link