“In early March 2023, Silvergate made a accountable choice to liquidate voluntarily and with out authorities help. As of November 2023, all deposits had been repaid to banking clients and Silvergate ceased banking operations quickly after. The settlements introduced at this time, which can facilitate the give up of Silvergate’s financial institution constitution, are a part of the Financial institution’s continued orderly wind down and efficiently conclude investigations by the Federal Reserve, DFPI and SEC,” the spokesperson mentioned in an emailed assertion.
