A member of Silvergate’s board of directors resigned Thursday, the crypto-friendly bank disclosed in a recent filing with the Securities and Exchange Commission (SEC).
Rebecca Rettig, who initially joined Silvergate’s board in March of last year, notified the company that she would be resigning yesterday. A graduate of Columbia Law School, she previously served as general counsel at Aave Companies, the group behind the decentralized finance (DeFi) platform Aave.
Silvergate stated in the filing that Rettig has decided to leave the company because she “has accepted an executive position at another company” and will focus on her new commitments, adding it was “not the result of any dispute or disagreement.”
Rettig tweeted Thursday that she’d be moving on to Polygon Labs to serve as the company’s first chief policy officer. Silvergate nor Rettig responded immediately to Decrypt’s request for comment.
1/ Some exciting 📰 I’ve joined Polygon Labs, the original dev of @0xPolygon, as its first Chief Policy Officer. I’ll lead our 🌎 efforts in crafting sound laws that will allow the web3 ecosystem to flourish. This presents a unique opportunity to move the industry forward💜
— Rebecca Rettig (@RebeccaRettig1) February 9, 2023
“I did some soul searching about the industry & how to build a future I believe in,” she wrote. “I kept coming back to the same idea: the most important thing right now is getting crypto policy right.”
Silvergate has recently come under scrutiny from the Department of Justice, which is looking into the La Jolla-based bank’s handling of bank accounts tied to bankrupt cryptocurrency exchange FTX and Alameda Research—the trading firm owned by the exchange’s former CEO Sam Bankman-Fried.
When Bankman-Fried’s crypto empire crumbled and sparked an industry-wide bout of contagion last
