According to BlockBeats, on February 3, Bloomberg reported, citing people familiar with the matter, that prosecutors from the U.S. Department of Justice's anti-fraud division have begun investigating Silvergate's handling of accounts for FTX and Alameda Research, and the criminal investigation is reviewing accounts related to Silvergate's SBF business. The fraud investigation focuses on potential criminal behavior such as FTX depositing deposits, including user funds, into Alameda accounts. A Silvergate representative said on Tuesday that the company has a comprehensive compliance and risk management program and has conducted significant due diligence on FTX and Alameda Research. Silvergate shares fell more than 20% in extended trading on Thursday, erasing a 29% gain during normal trading hours in New York.