Sen. Warren and two Republican colleagues send Silvergate a request for information about the bank’s relationship with FTX.
raise questions about possible commingling of customers’ money and transfers of funds between FTX and Alameda.
Citing client confidentiality and Silvergate’s status as a federally regulated financial institution, Lane declined to answer NBC News’ questions about the bank’s dealings with FTX, Alameda or other Bankman-Fried companies. Silvergate’s use of Bankman-Fried as a pitchman may also create potential legal risks, one securities law expert said. “If they’re advertising him on their website, they would have a more substantial duty of due diligence,” said Lewis D. Lowenfels, a prominent securities lawyer and co-author of the leading treatise on the nation’s securities laws. “They have a duty to make sure they are not stimulating a fraud.
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