Microstrategy founder and bitcoin enthusiast Michael Saylor said Silvergate was "responsible" amid the collapse of other crypto institutions including the FTX exchange and said he'd keep doing business with the crypto-friendly bank.

The executive's comments come as the Justice Department’s fraud unit has reportedly begun probing Silvergate’s handling of accounts for former FTX CEO Sam Bankman-Fried’s firms. The fraud probe is focused on potential criminal wrongdoing in allowing FTX’s deposits – including user funds – into accounts belonging to sister trading firm Alameda Research, Bloomberg News reported on Thursday, citing sources.

"We will continue to do business with Silvergate," Saylor said on CNBC. "The institutions that were improperly constructed collapsed — the Alamedas, the FTXes, the Voyagers, the BlockFis of the world — but in fact, Silvergate was a responsible bank."