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cryptonews
2023-03-11 09:38:00

Bankrupt Crypto Lending Platform BlockFi Faces Potential $227 Million Loss in Uninsured Funds at Silicon Valley Bank – What's Going On?

Bankrupt Crypto Lending Platform BlockFi Faces Potential $227 Million Loss in Uninsured Funds at Silicon Valley Bank – What's Going On?

Bankrupt crypto lender BlockFi has $227 million in uninsured funds stuck in an account maintained by failed lender Silicon Valley Bank. According to a March 10 filing by the Justice Department, BlockFi has $227 million parked in a money market mutual fund, which isn’t insured by the Federal Deposit Insurance Corporation (FDIC), at the now-collapsed Silicon Valley Bank. ... Read More: Bankrupt Crypto Lending Platform BlockFi Faces Potential $227 Million Loss in Uninsured Funds at Silicon Valley Bank – What's Going On?

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