Silvergate Bank transformed from a community lender to a high-flying crypto bank without its Federal Reserve examiners raising an alarm, according to a report from the Federal Reserve’s Office of Inspector General (OIG), allowing the bank to take risks that would turn fatal.
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from CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Fed Report: Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged
October 02, 2023