Block.one and its CEO Purchase Stake in Silvergate Capital
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EOS launcher Block.one and co-founder Brendan Blumer have just acquired 9.3% and 7.5% stakes in digital asset-friendly bank Silvergate Capital, respectively.
As a result of the deals, whose financial terms have not been disclosed, Blumer has become the largest shareholder of Silvergate Capital.
The press release says:
“Silvergate’s current share prices do not accurately reflect its strong balance sheet, strategic positioning or growth trajectory and therefore offer a unique investment opportunity.”
The shares of Silvergate have positively reacted to the news with an increase of 11.49% in trading on November 23, to $28.15. Since the beginning of the year, securities have fallen in price by 81%.
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