Silvergate Bank lawsuit calls for FTX, Alameda clients to weigh in on $10M settlement

More than 46,000 claimants could potentially receive a payout from a court-approved settlement involving the FTX-tied Silvergate Bank, which shuttered in 2023.

One of the class-action lawsuits filed against the cryptocurrency-friendly Silvergate Bank in California is calling for claimants with ties to FTX or Alameda Research accounts.

A group of investors asked Silvergate users who deposited fiat “into an FTX- or Alameda-related account” from 2019 to 2022 to submit claims for a settlement filed in the US District Court for the Southern District of California.

According to the lawsuit, investors have until Jan. 30 to opt out or file a claim as part of a $10 million settlement that “resolves a lawsuit over whether Silvergate Bank, Silvergate Capital Corporation, and Alan J. Lane aided and abetted tortious conduct on the part of FTX, Alameda, and Sam Bankman-Fried.”

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