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According to Bloomberg on February 2, the US Department of Justice has investigated the transaction between Silvergate Capital and FTX and Alameda Research.

It is reported that Yinmen Bank has not been accused of any wrongdoing, and the investigation may be completed without explicitly filing all charges against the company.

The judicial department did not officially announce the conclusion of the investigation. In turn, Bloomberg won the information about the investigation of trade secrets from the secret name.

In November, when FTX was poorly managed, Silvergate weakened its openness to FTX. However, the relationship between the bank and FTX and Alameda quickly became increasingly harsh. Last December, foreign senators indicated that the Silvergate account was the core of the FTX collapse. Recently, it was reported that in a bank squeeze after the bankruptcy of FTX, Silvergate won US $4.3 billion in loans from the Federal Government Housing Loan Bank.

Earlier this week, senators conducted an investigation to find out whether Silvergate had a deep understanding of FTX's inappropriate theme activities and fund management. This new diligence comes from Silvergate's inability to respond to similar situations in December last year.

It is not clear whether the Senate's recent investigation directly led to today's judicial department investigation. In addition, it is not clear what contact (if any) between Silvergate and FTX has been conducted as part of the said investigation.

The harsh post-FTX encryption market poses additional hazards to Silvergate in a broader practical sense. In that month, the company dismissed 40% of its employees, or 200 employees.

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