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 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. ...