what actually happened: - Warren encouraged a bank run against Silvergate because she saw an opportunity to harass a pro-crypto institution after FTX collapsed - Warren uses talking points dreamed up by Silvergate short seller Cohodes - Cohodes did not deny having contacted her office - We know now that SI was not criminally liable for any FTX stuff, even though Warren heavily implies that in the tweet above, that was the entire thrust of her december '22 letter, and that was the essence of all the short seller campaigns. SI was misled by SBF/FTX just like everyone else. - Silvergate was solvent til the end and directors chose to voluntarily liquidate not because of the bank run (which they had survived), but because bank regulators told them they couldn't serve crypto clients any more - so their business evaporated - "customer must be made whole" - customers were whole the whole time. - Voluntary wind down was not evidence that "crypto is risky to banking" but rather that "regulators will kneecap you if you are a crypto bank". it doesn't prove Warren's point at all. It just proves that bank regulators can capriciously kill off the firms they regulate if they want. Ok...? some point you've made there. - Silvergate's ultimate settlement with the SEC was not for anything material or related to FTX but execs making "misleading" statements about the bank's soundness. (That was really all they could find after throwing everything at them). Settlement with CA DFPI focused on "deficiencies with respect to Silvergate’s monitoring of internal transactions" in the context of SEN. No criminal charges ever materialized cause there simply wasn't evidence of wrongdoing. Despite Warren's insinuations. Many hundreds of firms were service providers to FTX/Alameda, Silvergate was just one.