Finextra: Crypto bank Silvergate pays $63m to settle regulator charges for misleading investors about the strength of their AML program and the losses sustained during the collapse of FTX

The SEC charged Silvergate and its executives with misleading investors about the company’s losses from expected securities sales and its dire financial condition during a liquidity crisis and bank run following FTX’s collapse. Silvergate and Martino misrepresented the situation leading the firm to announce the winding down of its banking operations last year. Consequently, the company’s stock plummeted to nearly zero…