Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged

Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged

“Examiners should have taken more aggressive and decisive supervisory action to escalate several issues in light of the bank’s unchecked growth; its volatile funding and deposit concentrations; and its significant, pervasive, and persistent weaknesses in key control functions,” the report found.

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