You are currently viewing Block.one and its CEO become largest Silvergate Capital shareholders

Brendan Blumer, CEO of Block.one, which developed the EOSIO blockchain platform and EOS (EOS) coin, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, according to an SEC filing. That document, dated Nov. 23, listed Nov. 16 as the date of the transaction.

The purchase of nearly 3 million shares represents 9.27% of Silvergate stock. Blumer purchased 571,351 shares personally, and Block.one purchased 2,363,186. According to CNN, this deal will make them Silvergate’s largest shareholder.

@BrendanBlumer founder of EOS buys 9.27% of Silvergate Capital $SI + his company https://t.co/tZqWL2yAx6 buys 7.64%https://t.co/Wh64Odn9Nr

— yeezus (@yeezuscapital) November 23, 2022

Block.one raised a record-breaking $4 billion in its initial coin offering (ICO) for EOS in 2017-2018. Later, the United States Securities and Exchange Commission (SEC) charged Block.one with not registering its ICO. Block.one settled with the SEC for $24 million. Block.one was also the

Keep reading this article on Cointelegraph.com.

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