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

According to ChainCatcher, Block.one said that all of its shares in the crypto bank Silvergate have been sold and it has "exited" its equity in the company. Block.one also said that its crypto exchange Bullish has no risk exposure to Silvergate.

It is understood that when Block.one exited its stake, Silvergate's share price closed at $5.69, and Block.one's position was worth approximately $18 million, which means that its founder Brendan Blumer and Block.one lost approximately $83 million on their investment.

Previously, ChainCatcher reported that Block.one and the company’s CEO purchased a total of 17% of Silvergate’s shares. (Source link)