Block.One Founder Took $74M Loss On Silvergate Stocks 

Block.One founder loses $70 million in Silvergate

By November 16, EOS and Block.One founder Brendan Blumer had spent over $90 million to buy 9.27% of Silvergate stock.

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The crypto-friendly bank has collapsed 80% since then.

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Blumer has lost $74 million in Silvergate shares personally.

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Block.One had a 7.5% stake in Silvergate as of November 16; Blumer owned the 1.7% balance listed on the SEC filing.

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Silvergate was among the major backers of FTX and Alameda Research.

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Since FTX bankruptcy filing, several other companies have also gone under as the dust settles.

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Coinbase, Circle and many other crypto firms have withdrawn from Silvergate.

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