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SilverGate Burns Itself to Ashes After Trying Too Hard to Be Cool and Now Everyone’s Laughing at You

Crypto NewsNewsRegulation/Negotiation 3 Doug Martinez August 15, 2024

An illustration: A burning building with flames engulfing it from all sides; a figure in the distance running away as if trying to escape. The building's windows show images of cryptocurrency coins falling through them like raindrops. In one window, an image of FTX is visible amidst the chaos. Smoke and fire surround everything else. At the bottom left corner lies a pile of ashes with 'SilverGate' written in it. A faint outline of Alan Lane can be seen running away from the building at top right distance.

Crypto’s latest victim is a reminder that even those who have made it out alive from this wild west era still can’t escape the consequences. When you’re playing with fire like Silvergate did, there are bound to be burn victims

Source: bitcoin.com

SEC, Fed Charge Silvergate for Misleading Investors, Failing to Monitor $1 Trillion in Transactions
https://news.bitcoin.com/sec-fed-charge-silvergate-for-misleading-investors-failing-to-monitor-1-trillion-in-transactions
The U.S. Securities and Exchange Commission (SEC), the Federal Reserve Board (FRB), and the California Department of Financial Protection and Innovation (DFPI) have taken action against Silvergate Capital Corp., the holding company for Silvergate Bank, and its former executives for misleading investors and failing to monitor significant transactions. Silvergate has agreed to pay penalties without admitting guilt. The U.S. Securities and Exchange Commission (SEC) announced on Monday that it has […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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