03-11-2023, 07:50 AM
BlockFi holds $227 million in Silicon Valley Bank... When will the show end!?
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11o4ze3/blockfi_holds_227_million_in_silicon_valley_bank/"> <img src="https://b.thumbs.redditmedia.com/pqv3F5BUMjOGZSSfdrMUT_vCExc0jy3i8m42dUgawfQ.jpg" alt="BlockFi holds $227 million in Silicon Valley Bank... When will the show end!?" title="BlockFi holds $227 million in Silicon Valley Bank... When will the show end!?" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>According to a recent bankruptcy filing, BlockFi holds $227 million in Silicon Valley Bank. However, the bankruptcy trustee cautioned the company on Monday that these funds are not FDIC insured because they are invested in a money market mutual fund. This could pose a problem for BlockFi in terms of complying with bankruptcy laws.</p> <p><strong>Silicon Valley Bank</strong> was the 2nd largest bank failure in US history, with 209$ Billion in assets at the time of failure (apparently). Only Washington Mutual bank failure was bigger... </p> <p><a href="https://preview.redd.it/pvzisecg00na1.png?width=2048&format=png&auto=webp&s=057e3e884cbdb9431cd124af6aaee15d41bf57c1">https://preview.redd.it/pvzisecg00na1.png?width=2048&format=png&auto=webp&s=057e3e884cbdb9431cd124af6aaee15d41bf57c1</a></p> <p><a href="https://preview.redd.it/ff5vokqh00na1.png?width=2048&format=png&auto=webp&s=10f5a051407ccf09b38337d9798bb1b74ebbb511">https://preview.redd.it/ff5vokqh00na1.png?width=2048&format=png&auto=webp&s=10f5a051407ccf09b38337d9798bb1b74ebbb511</a></p> <p>Massive line currently outside <strong>Silicon Valley Bank</strong> in California as customers panic.. This is serious!<br/> Bear Market shows no mercy!<br/> Good luck everyone, hope this doesn't blow the entire financial system... </p> <p>Btw, Jim Cramer said a month ago <strong>Silicon Valley Bank</strong> was a buy at 320$.<br/> He did the same with Bear Sterns in 2008.<br/> This man is definitely a criminal on live television... Glad the SEC and every law enforcement is still looking away from the real criminals in this world...</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/NobelStudios"> /u/NobelStudios </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11o4ze3/blockfi_holds_227_million_in_silicon_valley_bank/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11o4ze3/blockfi_holds_227_million_in_silicon_valley_bank/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11o4ze3/blockfi_holds_227_million_in_silicon_valley_bank/"> <img src="https://b.thumbs.redditmedia.com/pqv3F5BUMjOGZSSfdrMUT_vCExc0jy3i8m42dUgawfQ.jpg" alt="BlockFi holds $227 million in Silicon Valley Bank... When will the show end!?" title="BlockFi holds $227 million in Silicon Valley Bank... When will the show end!?" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>According to a recent bankruptcy filing, BlockFi holds $227 million in Silicon Valley Bank. However, the bankruptcy trustee cautioned the company on Monday that these funds are not FDIC insured because they are invested in a money market mutual fund. This could pose a problem for BlockFi in terms of complying with bankruptcy laws.</p> <p><strong>Silicon Valley Bank</strong> was the 2nd largest bank failure in US history, with 209$ Billion in assets at the time of failure (apparently). Only Washington Mutual bank failure was bigger... </p> <p><a href="https://preview.redd.it/pvzisecg00na1.png?width=2048&format=png&auto=webp&s=057e3e884cbdb9431cd124af6aaee15d41bf57c1">https://preview.redd.it/pvzisecg00na1.png?width=2048&format=png&auto=webp&s=057e3e884cbdb9431cd124af6aaee15d41bf57c1</a></p> <p><a href="https://preview.redd.it/ff5vokqh00na1.png?width=2048&format=png&auto=webp&s=10f5a051407ccf09b38337d9798bb1b74ebbb511">https://preview.redd.it/ff5vokqh00na1.png?width=2048&format=png&auto=webp&s=10f5a051407ccf09b38337d9798bb1b74ebbb511</a></p> <p>Massive line currently outside <strong>Silicon Valley Bank</strong> in California as customers panic.. This is serious!<br/> Bear Market shows no mercy!<br/> Good luck everyone, hope this doesn't blow the entire financial system... </p> <p>Btw, Jim Cramer said a month ago <strong>Silicon Valley Bank</strong> was a buy at 320$.<br/> He did the same with Bear Sterns in 2008.<br/> This man is definitely a criminal on live television... Glad the SEC and every law enforcement is still looking away from the real criminals in this world...</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/NobelStudios"> /u/NobelStudios </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11o4ze3/blockfi_holds_227_million_in_silicon_valley_bank/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11o4ze3/blockfi_holds_227_million_in_silicon_valley_bank/">[comments]</a></span> </td></tr></table>