It turned out that the sinking crypto lending platform BlockFi had $227 million in uninsured funds at the bankrupt Silicon Valley Bank.
of BlockFi March 10 In his statement published on the date of the bankruptcy 227 million in Silicon Valley Bank worth a dollar money market fund shares were found. any of the funds involved. uninsured Experts suggested that the funds could be safe.
Deposit in the scope of not evaluated for Federal Deposit Insurance Corporation (FDIC) funds that are not insured by short-term government and private sector debt securities allegedly exposed.
Experts say that although funds are held in SVB, based on the information provided, the bank does not have any not doing fund management stated. SVB’s shares in BlockFi only enclosure funds of the bankrupt crypto loan platform if it has served on will not be at risk was among the statements put forward by the experts.
