Article Reading Time:
1 min.
CEO of SilvergateCapital, the parent company of Silvergate Bank, Alan Lane believes that investors interested in the fall of the cryptocurrency market are speculating on negative news.
Alan Lane said that traders onshort sellers are trying to make the most of the market uncertainty caused by the collapse of the FTX exchange. He said that Silvergate Bank was recently forced to refuse to cooperate with one of the companies associated with the bankrupt crypto lender BlockFi.
Lane added that his company complieslaws that require monitoring and careful review of “every account.” "Silvergate conducted thorough due diligence on FTX and its related entities, including Alameda Research, before providing services and continuously monitored the company's financial condition while working with the company," he said.
Let us remind you that in February the financial corporationSilvergate Capital acquired the intellectual property and other assets associated with operating the Diem Payment Network from the Diem Association.
Read this:
Silvergate Capital reports 84% net income growth
Silvergate Bank reports an increase in transaction volume in BTC
Alan Lane: “Crypto companies will still face short-term crises”
Meta abandons plans to issue its own cryptocurrency
Silvergate Bank ends partnership with Binance
Silvergate Capital – all the best from crypto and traditional banking