EOS founder Brendan Blumer has incurred a loss of over 70 million dollars on his investment in Silvergate stock

ChainCatcher news, EOS and Block.One founder Brendan Blumer spent $90 million to purchase 9.27% of Silvergate's stock. Today, the stock price of this cryptocurrency-friendly bank has plummeted over 80%, which means he has personally lost at least $74 million.

Previously, Brendan Blumer purchased over 2.9 million shares of Silvergate on November 16, acquiring a 9.27% stake, becoming the largest shareholder of Silvergate.

It is reported that Block.one bought nearly 2.4 million shares, holding 7.5% of the bank's shares, and Block.one along with its CEO collectively holds about 16.8% of Silvergate. (source link)