Cryptocurrency bank service Silvergate Capital has announced that it has “minimal” exposure to BlockFi, which has filed for Chapter 11 bankruptcy protection.
yesterday evening BlockFi of Chapter 11 bankruptcy protection After the company filed its application, related institutions that could be exposed to bankruptcy of the company came to the fore. Among these institutions silvergate in Capital was located. The news of bankruptcy, which turned into a part of a chain fud, eventually affected Silvergate Capital.
However, in a statement made by the company soon after, it was stated that they were not exposed to the BlockFi collapse as much as the news circulating. Silvergate, the total digital asset deposit relationship with BlockFi, November 28 as of less than $20 million said that:
BlockFi is not a custodian for Silvergate’s Bitcoin-backed SEN leverage loans and has continued to perform with zero losses to date. Silvergate does not have any investments in BlockFi. The news circulating is false and misleading.
Silvergate urged people to visit their website directly for accurate information. The crypto exchange that went bankrupt in the previous statement by Silvergate to FTX and FTX’s total deposits as of September 30 from 10% He said he represented the few.