 | According to a recent bankruptcy filing, BlockFi holds $227 million in Silicon Valley Bank. However, the bankruptcy trustee cautioned the company on Monday that these funds are not FDIC insured because they are invested in a money market mutual fund. This could pose a problem for BlockFi in terms of complying with bankruptcy laws. Silicon Valley Bank was the 2nd largest bank failure in US history, with 209$ Billion in assets at the time of failure (apparently). Only Washington Mutual bank failure was bigger... Massive line currently outside Silicon Valley Bank in California as customers panic.. This is serious! Btw, Jim Cramer said a month ago Silicon Valley Bank was a buy at 320$. [link] [comments] |
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