This little-known firm was central to the misappropriation of FTX customers' money, regulators say.
by Congress for its role as FTX’s main banking partner. Last week, responding to a request for information from four senators, Silvergate said it was reviewing transactions in accounts held at the bank that were associated with FTX entities.
Silvergate Bank did not immediately respond to a request for comment about the due diligence it conducted on North Dimension or whether it visited its website to verify its operations. In the past, citing client confidentiality, a representative for Silvergate Bank has declined to comment on specific cases. Silvergate is overseen by the Federal Reserve Board and its deposits are guaranteed by the Federal Deposit Insurance Corp.
North Dimension was incorporated in August 2020 in Delaware, records show, about a year and a half after FTX commenced operations. Its incorporation papers, and those of a sister company called North Wireless Dimension, were drawn up by Fenwick & West,, before he joined the crypto empire.
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