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Silvergate Capital agrees $63m settlement over AML compliance

Federal reserve seal on floor of Eccles Building
Photo: Brooks Kraft/ Getty Images

Silvergate, the California lender that was undone by the collapse of FTX, just agreed to settle state and federal probes.

Silvergate Capital, formerly one of the top banks serving crypto companies, has agreed to pay $63m to federal and state regulators to resolve investigations into alleged deficiencies in its anti-money-laundering program.

Silvergate agreed to settle claims by the Federal Reserve and California’s Department of Financial Protection & Innovation without admitting