Public Letter from Silvergate Capital Company Chief Government Officer Alan Lane
Our only URLs are
All other sites are scams – especially be wary of:
benumbs.cards & bennumb.cards & bennumbs.cards & benumb.cc & many more…
(it can be hard to notice the S and extra N if not careful.)
Welcome to the real deal.
Please bookmark this link — the other sites have simply copy/pasted our html and don’t actually have any cards to sell.
They can be easy to fall for if you aren’t cautious!
#tl;dr
We conducted extensive due diligence on FTX and Alameda Research.
– conducted significant due diligence on FTX and its related entities including Alameda Research, both during the onboarding process and through ongoing monitoring…
– … Silvergate received payments directed to Alameda Research and credited it to the account of the same name, this was consistent with the instructions from the sender of the wire and industry practice
– if we detect activity that is unexpected or potentially concerning in any account, we conduct an investigation and, when required, confidentially file a suspicious activity report in accordance with federal regulation.
We have a resilient balance sheet and ample liquidity.
– our customers’ deposits are, and have always been, safely held.
– our entire investment securities portfolio can be pledged for borrowings at the Federal Home Loan Bank, other financial institutions, and the Federal Reserve Discount Window – and can ultimately be sold should we need to generate liquidity to satisfy customer withdrawal request.
– intentionally carry cash and securities in excess of our digital asset related deposit liabilities.
“As always, over the past few weeks Silvergate’s first priority has been serving our customers as they navigate this incredibly volatile environment.”
Good joke
Silvergate’s public letter appears written with confidence that customers will not withdraw funds in significant amounts. No reason to suspect differently when dealing with precious metals.
I wonder about the lending mentioned. DTCC is notorious for FTDs (failures to deliver) as a way of taking collateral without returning it. Additionally, DTCC members have admitted to manipulating precious metals prices by issuing futures in excess of commodity supply. Along with that, creating derivatives on borrowed commodities is a questionable practice. What would they do if delivery is taken in large amounts; give away the borrowed commodity?
Good work.