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 p...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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?
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptonewsRelated market context
Dutch Prosecutors Raise $2.55M From Crypto Tied to Bankrupt Knaken
A court-appointed trustee warns that the 6,300 customers of the bankrupt Dutch crypto platform Knaken face severe financial losses...
Compound Foundation Names Coinbase And Anchorage Alumni To Run $52 Million Institutional Push
Compound Foundation named four executives recruited from Coinbase Custody, Anchorage Digital, the NEAR Foundation and Maple Financ...
Worldcoin (WLD) Price Prediction: Ascending Triangle Signals Potential $0.40 Breakout Amid Grayscale ETF Filing and Supply Cuts
The improving setup comes as several fundamental developments have changed the backdrop for WLD. Grayscale has filed with the U.S....
Bitcoin faces its highest Treasury hurdle since 2007 with $22.5B less crypto credit to unwind
The US 30-year Treasury yield crossed 5.3% on Aug. 17 for the first time since June 2007, the same day Galaxy published a report s...
Sui’s Hashi Bridge Tops 1.1 Million Bitcoin Deposits in 3 Weeks
Sui’s Hashi bitcoin lending protocol has processed more than 1.1 million deposits and 165,000 withdrawals in the three weeks since...
Bitcoin turned $10,000 into $870,000 in a decade where 87% of active stock funds failed to beat passive rivals
Bitcoin returned 87 times over a decade, while only 13% of actively managed US large-cap equity funds beat comparable passive fund...