Silvergate’s Collapse May Spell Regulatory Trouble for Crypto

Silvergate Bank announced last week it had to delay filing its annual 10-K form because of questions it received from its independent auditors. In the same form, under the “forward looking statements” section, Silvergate announced it was facing bank regulator inquiries, a U.S. Department of Justice investigation, congressional scrutiny and concerns about its ability to be a “going concern” over the next year. Generally speaking, these are all bad signs.

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