ChainCatcher news, according to Reuters, the U.S. Securities and Exchange Commission (SEC) has sued the crypto bank Silvergate Capital in a federal court, accusing it of securities fraud.The SEC stated that after the collapse of FTX in 2022, Silvergate misled investors regarding its banking confidentiality practices, anti-money laundering compliance program, and poor financial condition. Meanwhile, the bank failed to monitor nearly $9 billion in suspicious transfers related to FTX and its affiliated entities.It is reported that in March 2023, Silvergate, which entered the cryptocurrency space in 2013, decided to cease operations and voluntarily liquidate due to losses caused by the panic following the collapse of FTX.