Block.one: All shares of Silvergate have been sold, with a total loss of approximately $83 million

ChainCatcher news, Block.one stated that it has completely sold its shares in the cryptocurrency bank Silvergate and indicated that its cryptocurrency exchange Bullish has no risk exposure to Silvergate.

It is understood that when Block.one exited its equity, Silvergate's stock price closed at $5.69, while the position held by Block.one was valued at approximately $18 million, which means its founder Brendan Blumer and Block.one incurred an investment loss of about $83 million.

Previously, ChainCatcher reported that Block.one and the company's CEO collectively purchased 17% of Silvergate's shares, which were valued at about $95 million at the time. (source link)