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Brendan Blumer’s Risky Investment in Silvergate

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According to reports, Brendan Blumer, founder of EOS and Block. One, had previously spent more than $90 million to buy about 9.27% of the shares of Silvergate….

Brendan Blumers Risky Investment in Silvergate

According to reports, Brendan Blumer, founder of EOS and Block. One, had previously spent more than $90 million to buy about 9.27% of the shares of Silvergate. For regulatory purposes, Brendan Blumer had previously admitted that he was the beneficial owner of all 9.27% of the shares. However, with the collapse of Silvergate’s share price, his personal floating loss reached at least $74 million.

EOS founder may lose more than $70 million due to holding Silvergate shares

Analysis based on this information:


The founder of EOS and Block. One, Brendan Blumer, took a risky step by investing more than $90 million in Silvergate, a cryptocurrency-friendly bank. According to reports, he acquired about 9.27% of the shares of Silvergate, making him the beneficial owner of these shares for regulatory purposes. However, the latest news is that the share prices of Silvergate have witnessed a significant collapse, leading to Blumer experiencing huge losses in his personal capacity.

Brendan Blumer has always been a prominent figure in the crypto world. However, his recent investment in Silvergate shows how the volatile nature of cryptocurrencies can impact even the most experienced investors. The sudden slump in Silvergate’s share prices can be attributed to several factors, including the economic slowdown triggered by the COVID-19 pandemic and the general instability of the cryptocurrency market.

As per the reports, Blumer’s personal floating loss has reached at least $74 million, meaning he has lost nearly 82% of his investment. This suggests that the crypto industry is still quite unpredictable, and investors must exercise caution while putting their money into it.

The news of Blumer’s investment and the subsequent losses serve as a cautionary tale for other investors looking to put their money in the cryptocurrency market. The market’s volatility is something that needs to be taken into account when investing, and investors must be prepared for significant losses. In Blumer’s case, it appears that he may have been overly optimistic about Silvergate’s potential.

In conclusion, Brendan Blumer’s investment in Silvergate highlights the unpredictable nature of the cryptocurrency market. Although the market has provided numerous opportunities for investors, it carries a significant level of risk. Blumer and other investors must take this into account when investing in cryptocurrencies or crypto-related businesses.

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