Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged

Changelly
Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged
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“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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