{"id":527950,"date":"2022-12-16T10:39:28","date_gmt":"2022-12-16T07:39:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/silvergate-faces-class-action-lawsuit-over-ftx-and-alameda-dealings\/"},"modified":"2022-12-16T10:39:28","modified_gmt":"2022-12-16T07:39:28","slug":"silvergate-faces-class-action-lawsuit-over-ftx-and-alameda-dealings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/silvergate-faces-class-action-lawsuit-over-ftx-and-alameda-dealings\/","title":{"rendered":"# Silvergate faces class-action lawsuit over FTX and Alameda dealings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36dc750f5e2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36dc750f5e2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/silvergate-faces-class-action-lawsuit-over-ftx-and-alameda-dealings\/#%E2%80%9D_Silvergate_faces_class-action_lawsuit_over_FTX_and_Alameda_dealings_%E2%80%9C\" >&#8221; Silvergate faces class-action lawsuit over FTX and Alameda dealings &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Silvergate_faces_class-action_lawsuit_over_FTX_and_Alameda_dealings_%E2%80%9C\"><\/span>&#8221; Silvergate faces class-action lawsuit over FTX and Alameda dealings &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvMTBiMTZlOTgtZGQyMS00MjQwLThiNGEtYTk4OWFmZjBiMDM2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>A class-action lawsuit against Silvergate Bank, Silvergate Capital Corporation and Silvergate CEO Alan Lane was filed at the California Southern District Court concerning accounts held by embattled crypto companies FTX and Alameda Research.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/pdfserver.amlaw.com\/legalradar\/47155056_complaint.pdf\">suit<\/a> aims to hold Silvergate accountable for its alleged roles in placing FTX user deposits into the bank accounts of Alameda, which caused panic within the crypto market, eventually leading to both firms declaring bankruptcy. <\/p>\n<p>The lawsuit was filed by the plaintiff Joewy Gonzalez on behalf of himself and others in the same situation. According to the suit, the plaintiff invested his savings in crypto through the FTX exchange as the platform promised investors that they were able to &#8220;store assets securely as they gained in value, cash them out or trade them for other assets.&#8221; <\/p>\n<p>The suit alleges that Silvergate aided and abetted FTX\u2019s fraudulent activities and the exchanges\u2019 breaches of fiduciary duty through improper transfers, lending user funds and comingling funds. According to the lawsuit, Silvergate is liable for its role in \u201cfurthering FTX\u2019s investment fraud\u201d and has an obligation in returning what they owe to the plaintiff and other investors. <\/p>\n<p>The plaintiff is represented by Girard Sharp and Hartley LLP. On the other hand, the defendants&#8217; counsel has not yet <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared at the time of writing.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>FTX ex-staffer: Extravagant expenditures and cult-like worshipping of SBF<\/em><\/strong><\/p>\n<p>On Dec. 6, three United States senators wrote a letter to Silvergate demanding answers on the firm\u2019s role in the loss of billions of dollars during the FTX collapse. Senators Elizabeth Warren, John Kennedy and Roger Marshall asked Lane to provide details on the firm&#8217;s relationship with FTX. <\/p>\n<p>Meanwhile, FTX lawyers have recently requested permission to sell off FTX Europe, FTX Japan, its derivatives exchange LedgerX and Embed, which is a stock-clearing platform. According to the lawyers, since the businesses are under regulatory pressure, the value of the assets is at risk and this merits an &#8220;expeditious sale process.&#8221; <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/silvergate-faces-class-action-lawsuit-over-ftx-and-alameda-dealings\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Silvergate faces class-action lawsuit over FTX and Alameda dealings &#8220; A class-action lawsuit against Silvergate Bank, Silvergate Capital Corporation and Silvergate CEO Alan Lane was filed at the California Southern District Court concerning accounts held by embattled crypto companies FTX and Alameda Research. The suit aims to hold Silvergate accountable for its alleged roles&#8230;<\/p>\n","protected":false},"author":1,"featured_media":527951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/10b16e98-dd21-4240-8b4a-a989aff0b036.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,117,55229,70934],"class_list":["post-527950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-business","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/527950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=527950"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/527950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/527951"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=527950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=527950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=527950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}