Silvergate Shares Slide as Questions Over FTX Relationship Swirl

Silvergate Capital shares slump as much as 14% in premarket trading Tuesday after NBC News reported that Senators including Elizabeth Warren, John Kennedy and Roger Marshall sent a request for information to CEO Alan Lane about the crypto bank’s dealings with Sam Bankman-Fried’s FTX exchange.

• Lane said in a public letter on Monday that it “conducted significant due diligence” on FTX both before and during its relationship with the firm and its related entities including Alameda Research
  • He added that customer deposits remain safe and that the bank has “a resilient balance sheet and ample liquidity”
  • READ: Silvergate Has ...