Brendan Blumer — a creator of smart contract platform EOS and one of the richest people in crypto — just single-handedly became the largest shareholder in crypto-friendly bank Silvergate Capital.

A recent SEC filing reveals that BLumer acquired a 9.3% stake in Silvergate Capital, becoming its largest shareholder. His stake move follows the 7.5% stake acquired by EOS development entity Block.One — meaning that he and an entity related to him jointly now control nearly 17% of the bank.

Block.One described Silvergate Capital as a company with a “proven track record of maintaining a liquid and conservative balance sheet investment portfolio” in a recent press release. The entity also highlighted that it believes the bank to be an unvervalued investment opportunity. The announcement reads:

“We believe Silvergate’s current equity prices do not accurately reflect their strong balance sheet, their strategic positioning, or their market-defiant growth trajectory, and therefore offers a unique investment opportunity. We are excited to be a new passive shareholder.”

Posted in

American Crypto Association Exclusives!

Bookmark the site and sign up for relevant alerts, trading tips, masternode updates and important news hosted within our exclusive newsletter. Valued at $3,588, we are offering this service free for one year!

Get onboard now!

Exclusive Newsletter!

Sign up for exclusive trading tips, masternode updates and important news hosted within our newsletter!
Terms and Conditions checkbox is required.
Something went wrong. Please check your entries and try again.
Translate »