BlockFi Has Cash Access for Staff, Vendors Despite SVB Collapse: Attorney

The New Jersey bankruptcy court had banned BlockFi from investing in secondary financial markets, according to a filing by U.S. Trustee Andrew Vara made on Friday. In a series of letters starting Feb. 17, Vara, a Department of Justice official responsible for bankruptcy matters, urged the lender to shift the funds somewhere where it would be protected by a government guarantee from the Federal Deposit Insurance Corporation (FDIC).