The SEC announced that Silvergate has agreed to pay a $50 million civil penalty without admitting or denying the charges. The SEC said it will also allege that Silvergate and its former CFO misled investors about the expected loss of securities sales following the crypto exchange FTX crash, and all the accused parties except Silvergate's former CFO have agreed to settle. The SEC had reportedly sued the bank in federal court in Manhattan for "securities fraud," according to a filing on Monday, with several former Silvergate executives named as defendants.