Silvergate Bank, a former crypto-friendly bank, collapsed in March 2023 due to the fallout created by the implosion of the FTX exchange.
The Federal Reserve Board announced it dropped all enforcement action against Silvergate Bank and the Silvergate Capital Corporation on July 26, 2024.
According to the announcement, the board ended its enforcement action due to Silvergate successfully winding down its operations, reimbursing customers and no longer operating as a bank.
The Federal Reserve Board of Governors returned Cointelegraph’s request for more information but declined to comment directly on the situation.
