Lender denies cutting off Silvergate from loans.
The Federal Home Loan Bank of San Francisco did not force Silvergate Bank to repay its outstanding advances, according to a spokesperson for the bank. Silvergate Capital disclosed in a securities filing on March 1 that it had to accelerate sales of securities to raise money to repay advances from the Federal Home Loan Bank of San Francisco. Some in the crypto industry have speculated that the early repayment ultimately triggered the bank run on Silvergate.