BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report
Teknolohiya BlockFi sa walang agarang panganib, sa kabila ng pagkakalantad sa Silicon Valley Bank: Ulat 8 minuto ang nakalipas Balita ng Ethereum ng Bitcoin According to a lawyer representing the bankrupt crypto lender BlockFi Inc.,the company is in a stable financial position with access to ample cash reserves, despite having over $200 million in exposure to Silicon Valley Bank, Bloomberg iniulat. During a bankruptcy hearing on Monday, Christine Okike of Kirkland BlockFi is fine … We have access to cash to operate in the normal course, including paying employees and vendors. Okike also noted that BlockFi expects to gain access to a significant portion of cash held with Silicon Valley Bank later in the day. The majority of BlockFi‘s exposure to Silicon Vally Bank is through third-party money-market mutual funds, which Okike claimed had no direct impact on the company’s operations. The bankruptcy case in question is identified as BlockFi Inc., 22-19361, and is being heard in the US Bankruptcy Court for the District of New Jersey in Trenton. Noong Marso 10, Californias financial regulator shut down Silicon Valley Bank, a major financial institution catering to venture-backed companies. The shutdown makes it the first Federal Deposit Insurance Corporation-insured bank to fail in 2023. On March 11, a bankruptcy