Did Silvergate let FTX and Alameda share funds and bank accounts? Isn’t that illegal? Also, if one of the objectives of KYC and AML procedures is to stop money laundering, why didn’t Sam Bankman-Fried and company’s actions trigger alarms? They were allegedly doing egregious activities out in the open. Of course, the answer is that the rules are different for the rich and famous. However, after the FTX collapse, Silvergate might have to answer some questions.
Let’s start at the beginning, though. Credit where credit’s due, a pseudonymous Twitter user that goes by the name of EventLongShort made the case.
The Russian city court in Tobolsk has “banned the import of equipment for the mining of cryptocurrency,” local media reported last week. Tobolsk is a town in Tyumen Oblast, Russia. The ban, which has already entered into force, applies to a local crypto miner who tried to import mining equipment for his own personal use. 