Federal Reserve Ends Enforcement Actions Against Silvergate Bank Amid Ongoing Legal Challenges

The Federal Reserve Board announced on July 26 that it had lifted all enforcement actions against Silvergate Bank and its parent company, Silvergate Capital Corporation. The decision followed the bank’s successful winding down of operations, which included reimbursing customers and ceasing its activities as a financial institution. While the Federal Reserve Board responded to Cointelegraph’s request for additional information, it declined to comment specifically on the matter. Silvergate Bank’s collapse in March 2023 marked a significant event in the financial sector. A month prior, the bank’s stock had become the second-most shorted on Wall Street, with 72% of shares borrowed

Source: CryptoIntelligence