BlockFi isn't in immediate danger, despite Silicon Valley Bank exposure: Report

According to a lawyer representing bankrupt crypto lender BlockFi Inc., the company is in a stable financial position with access to sufficient cash reserves, despite over $200 million exposure to Silicon Valley Bank, Bloomberg reported.

During the bankruptcy hearing on Monday, Christine Okike of Kirkland & Ellis claimed that BlockFi was not in immediate danger and had sufficient funds to continue to operate normally, including paying employees and vendors.