Silicon Valley Bank Collapse: BlockFi Left $227 Million at Failed Bank

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The Street

By Ellen Chang A bankrupt crypto lender was impacted by the collapse of Silicon Valley Bank. Bankrupt crypto lender BlockFi had left $227 million at Silicon Valley Bank, which was shut down on March 10 by a federal regulator. Accessing the unprotected funds BlockFi left at the failed bank could be challenging until a buyer acquires it. DON’T MISS: Moody’s Failed to Warn About Silicon Valley Bank’s Problems The FDIC closed SVB on March 10 and started a new bank called the Deposit Insurance National Bank of Santa Clara. SVB failed after numerous companies transferred their cash out of the bank w…

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