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Brendan Blumer, CEO of Block.one, which developed the EOSIO blockchain platform and EOS (EOS) coin, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, according to an SEC filing. That document, dated Nov. 23, listed Nov. 16 as
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"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," the company wrote. Original Source
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The EOS Foundation is considering legal action against estranged parent firm Block.one seeking $4.1 billion in damages. Source
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