San Diego’s Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

But two-high profile crypto exchange bankruptcies — one of which is alleged to involve fraud — have sent the small financial institution’s shares reeling and drawn the scrutiny of lawmakers.

Silvergate’s stock price has plunged nearly 89% from a 12-month peak of $162.87 last December, closing Tuesday at $18.73 on the New York Stock Exchange.

Sen. Elizabeth Warren (D-Mass) and two other senators sent a letter to Silvergate Chief Executive Alan Lane last week raising questions about the California-chartered bank’s safeguards around accounts of crypto exchange FTX and its sister trading firm Alameda Research.

“Your bank’s involvement in the transfer of FTX customer funds to Alameda reveals what appears to be an egregious failure of your bank’s responsibility to monitor for and report suspicious financial activity carried out by its clients,” said the letter, which was also signed by Republicans John Kennedy of Louisiana and Roger Marshall of Kansas. Warren and Kennedy are members of the Senate banking committee.

“The public is owed a full accounting of the financial activities that may have led to the loss of billions in customer assets, and any role that Silvergate may have played in these losses,” the senators said.

The letter calls for Silvergate to provide…