📢 Gate Square #Creator Campaign Phase 2# is officially live!
Join the ZKWASM event series, share your insights, and win a share of 4,000 $ZKWASM!
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📅 Time: July 25, 22:00 – July 29, 22:00 (UTC+8)
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Post original content (at least 100 words) on Gate Square related to
SEC: Silvergate agrees to pay $50 million in civil fines for securities fraud allegations
Golden Finance reported that the U.S. SEC announced that, without admitting or denying the allegations, Silvergate agreed to pay a civil penalty of $50 million. The SEC stated that it would also charge Silvergate and its former CFO with misleading investors about the expected securities sales losses after the collapse of the encryption exchange FTX. All accused parties, except for Silvergate's former CFO, have agreed to settle. Previously reported, according to a case file record on Monday, the SEC filed a lawsuit against the bank in the Manhattan Federal Court for "securities fraud". Multiple former executives of Silvergate were named as defendants.