Bloomberg Law
March 10, 2023, 11:33 PM

Bankrupt Crypto Lender BlockFi Has $227 Million at SVB

David Pan
David Pan
Bloomberg News

Bankrupt crypto lender BlockFi has about $227 million in an account maintained by failed lender Silicon Valley Bank, the Justice Department said in a court filing.

The funds are parked in a money market mutual fund, which isn’t insured by the Federal Deposit Insurance Corp., according to a March 10 filing, from an arm of the DOJ that monitors bankruptcy court. The disclosure came the same day that federal regulators seized the bank after its swift and stunning downfall. Silicon Valley Bank had been one of the largest providers of financial services to tech startups including crypto ...