BlockFi has $227 million in uninsured funds at Silicon Valley Bank

March 11 TuoniaoX.com news, according to The Block, based on a bankruptcy filing, crypto lending institution BlockFi has $227 million in "unprotected" funds at Silicon Valley Bank, which may violate U.S. bankruptcy law. The U.S. trustee overseeing BlockFi's bankruptcy protection case stated in the filing that this $227 million is also not insured by the Federal Deposit Insurance Corporation because it is held in money market mutual funds.