A class action lawsuit was filed Wednesday in the United States District Court for the Southern District of California against Silvergate Bank, Silvergate Capital Corporation, and Silvergate CEO Alan Lane, alleging that the defendants directly aided and abetted FTX’s fraudulent activities. Plaintiff Joewy Gonzalez and “all others similarly situated,” according to court filings, entrusted their investments to the now-defunct crypto exchange FTX, which promised investors that they would be able to “store assets securely as they gained in value, cash them out, or trade them for other assets or financial products.” However, since FTX’s demise last month, the plaintiff and other FTX investors have been unable to recover their investments, leaving them facing “years of uncertainty and catastrophic losses.”
