The executives of stablecoin issuer Circle and bankrupt cryptocurrency lender BlockFi had been questioned by two members of Congress investigating so-called “mutual scraping preparations” that allegedly happened with Silicon Valley Financial institution, bankrupt as we speak.
On April 9, letters of the senator Elizabeth Warren and Consultant Alexandria Ocasio-Cortez (AOC) had been despatched to Circle, BlockFi and 12 different non-crypto tech firms asking a collection of questions on every firm’s relationship with SVB.
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