Brendan Blumer, founder of EOS developer Block.One, has bought 9.3% of crypto bank Silvergate Capital (SI)while Block.One bought 7.5% more, according to SEC documents filed Wednesday. According to the filing, Blumer purchased 2,934,537 shares of the crypto bank on Nov. Block.One bought 2,363,186 shares.
According to the latest statistics from FactSet, this purchase makes Blumer the largest shareholder of SIlvergate.
Block.one is a private blockchain company was founded by Brenden Blumer and Dan Larimer in 2017. It is best known for growing EOS.IO . Protocolwhich the company announced in 2017 and then released as open source software in 2018.
Silvergate shares were up about 5% Wednesday afternoon. they are decline since the demise of FTX due to concerns that Silvergate’s exposure to FTX would also severely affect it. FTX has at least $1 billion in deposits with Silvergate, but the bank says that represents less than 10% of total deposits from all digital asset customers.
Its CEO has also sought to reassure investors that the market volatility created by the crash of FTX will not affect the crypto bank’s business.
“Suffice it to say, whether deposits go up or down, we have the liquidity and capital ratios to support volatility,” Alan Lane said at the Blockchain and Digital Assets Summit. by Oppenheimer last Thursday.
Read more: Shares of Crypto Bank Silvergate Continues Fall Despite CEO’s Comments
