Silvergate Capital: All wire transfers involving Alameda comply with procedures, and no suspicious activity was previously detected

ChainCatcher news, cryptocurrency and fintech bank Silvergate Capital issued an open letter stating that Silvergate conducted significant due diligence on FTX and its related entities (including Alameda Research), and noted that the lender followed all relevant regulatory procedures when receiving wire transfers involving Alameda. According to the bank's own systems and regulatory requirements, any potential misconduct would be investigated and reported if necessary.

Previous report indicated that due to the bank's reluctance to do business with cryptocurrency companies including FTX, some FTX clients were instructed to wire funds through Alameda, which was allowed to open an account at the cryptocurrency and fintech bank Silvergate Capital Corp. (Source link)