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Fed Report: Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged

The Federal Reserve's inspector general studied the bank’s collapse and concluded the Fed’s examiners failed to quickly flag its problems and managers were “ineffective.”

Federal Reserve examiners should have been more aggressive about Silvergate Bank, the Fed's inspector general concluded. (Jesse Hamilton/CoinDesk)
Federal Reserve examiners should have been more aggressive about Silvergate Bank, the Fed's inspector general concluded. (Jesse Hamilton/CoinDesk)