BlockFi Is ‘Fine’ Despite $227 Million SVB Exposure, Lawyer Says
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BlockFi Inc. has ample access to cash and is in no immediate danger despite more than $200 million of exposure to failed Silicon Valley Bank, a lawyer for the bankrupt crypto lender said Monday.
“BlockFi is fine,” Christine Okike of Kirkland & Ellis said on behalf of the company in a bankruptcy hearing Monday. “We have access to cash to operate in the normal course, including paying employees and vendors.”