Silvergate Talking With FDIC About How to Save Crypto-Focused Bank: Bloomberg

Federal Deposit Insurance Corp (FDIC) officials have been consulting with executives of troubled crypto-focused bank Silvergate on how to keep the company in business, according to report from Bloomberg, citing sources familiar with the matter.

One option may involve recruiting crypto industry investors to help boost Silvergate’s liquidity, according to one of Bloomberg’s sources.

FDIC examiners were authorized to go to Silvergate’s La Jolla, Calif. headquarters last week by the Federal Reserve, which is Silvergate’s main federal overseer, according to Bloomberg.

The FDIC did not immediately return a request for comment.

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