Silvergate Stock Tanks on Report of DOJ Probe Tied to FTX, Alameda Dealings

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Silvergate Stock Tanks on Report of DOJ Probe Tied to FTX, Alameda Dealings
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Shares of Silvergate Capital fell sharply after-hours on Thursday following the publication of a Bloomberg article that the DOJ was looking into the crypto bank’s dealings with the now-bankrupt FTX and Alameda Research. $SI By NelWang

Shares of Silvergate Capital fell sharply after the market close on Thursday following the publication of a Bloomberg article that the U.S. Department of Justice’s fraud unit was looking into the crypto bank’s dealings with the now-bankrupt FTX and Alameda Research.

The criminal investigation is looking at Silvergate’s hosting of accounts tied to FTX and Alameda, according to people familiar with the matter that spoke to Bloomberg. Silvergate hasn’t been accused of any wrongdoing and the investigation could end without any charges being brought, according to Bloomberg.

Silvergate shares were down 28% in after-hours trading to $15.06, wiping out almost all of its 29% rally during the day’s session following a

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