TechFlow News — According to The Block, bankruptcy filings show that cryptocurrency lending firm BlockFi held $227 million in "uninsured" funds at Silicon Valley Bank, potentially violating U.S. bankruptcy law. Silicon Valley Bank was shut down Friday morning by California regulators. The $227 million is not insured by the Federal Deposit Insurance Corporation (FDIC). According to the FDIC website, the standard deposit insurance amount per depositor, per insured bank, for each account ownership category is $250,000.Original link
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