US Senators Reiterate Demand for FTX

US Senators await the response from Silvergate regarding FTX.

US Senators await the response from Silvergate regarding FTX.

After the collapse of FTX, the files of the cryptocurrency exchange began to be drilled. However, US Senators continue to address the issue.

Silvergate: There Are Restrictions On Disclosure Of Information About FTX

Several US senators have reportedly penned a letter from Silvergate Capital, the parent company of Silverga Bank, requesting a response regarding the collapse of cryptocurrency exchange FTX.

US Senators have submitted their requests to Silvergate for the disclosure of the unknowns regarding FTX. In response to the letter from senators, Silvergate said there were restrictions on the disclosure of “confidential information.”

According to Bloomberg’s report, some US senators, including Elizabeth Warren, Roger Marshall and John Kennedy, did not receive a full response to a letter they wrote in December about Silvergate’s role in managing FTX users funds. Senators find the pretext of Silvergate’s policy of not disclosing “confidential information” as unacceptable.

According to Bloomberg, the letter written by the senators included the following statements:

“Both Congress and the public need and deserve the information they need to understand Silvergate’s role in FTX’s downfall. This becomes all the more important, especially given the fact that Silvergate is turning to the Federal Home Loan Bank as the institution of last resort in 2022.”