Silvergate Trust Presses FTX Creditor Trust Over Claims
Silvergate Bank's liquidating trust is asking a Delaware bankruptcy judge to sustain its claims against FTX's creditor trust.
Updated on Nov. 11, 2026 in Financial Crime
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The liquidating trust for Silvergate Bank filed a motion Monday in the U.S. Bankruptcy Court for the District of Delaware seeking to sustain its claims against FTX's Chapter 11 creditor trust. The trust asserts potentially billions of dollars in losses tied to FTX's collapse, including claims of fraud and racketeering.
Why it matters
The filing puts the alleged routing of FTX.com customer funds through Silvergate Bank before a federal bankruptcy court. How the court resolves the claims could shape recovery for institutions affected by the FTX collapse.
The claims are at the stage of a motion asking the Delaware bankruptcy court to sustain them against FTX's creditor trust, with no ruling yet reported. The fraud and racketeering allegations are claims made by Silvergate's trust and have not been decided by the court.
The players
FTX Trading Ltd.
FTX Trading Ltd. was the cryptocurrency exchange operator whose 2022 collapse led to its Chapter 11 bankruptcy and the creditor trust now facing Silvergate's claims.
Sam Bankman-Fried
Sam Bankman-Fried was the co-founder and former chief executive of FTX, whose criminal case over the exchange's collapse drew wide public attention.
The details
Silvergate's trust alleges that FTX lied in order to route FTX.com customer funds through Silvergate Bank. It further alleges that FTX shielded those accounts from Silvergate's diligence and monitoring, and the claims are asserted against FTX's Chapter 11 creditor trust.
Timeline
Monday: Silvergate's liquidating trust filed its motion in the U.S. Bankruptcy Court for the District of Delaware.
Legal Context
The claims arise from the November 2022 collapse of FTX and its Chapter 11 bankruptcy, which has produced a wave of creditor disputes over losses. This filing adds a bank's claims of alleged fraud and racketeering to that proceeding.
Customers and creditors with claims tied to FTX may see how the Delaware court treats competing claims against the creditor trust, which affects potential recoveries. Banks and businesses that handle customer funds may face closer scrutiny of how their accounts are monitored.
The takeaway
Disputes over who bears losses from a collapsed exchange can run for years, and the outcome often depends on how courts weigh allegations of concealment against documented account records. Readers following FTX should track the Delaware court's rulings on these claims.
Further reading
For more on related cases, explore Financial Crime coverage.
Source note: This article includes information reported by Bloomberglaw.
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