U.S. lawmakers demand that 14 companies, including Circle and BlockFi, clarify their relationship with Silicon Valley Bank

ChainCatcher news, according to Bloomberg, U.S. Senator Elizabeth Warren of Massachusetts and U.S. Representative Alexandria Ocasio-Cortez of New York sent a letter on Sunday to the 14 largest depositors of Silicon Valley Bank, expressing concerns about the bank's relationships with certain venture capitalists and technology company founders. The companies that received this letter include USDC issuer Circle Internet Financial, crypto lending platform BlockFi Inc., metaverse platform Roblox, and others from various industries.

It is reported that the two Democrats requested these companies to explain the duration of their relationship with the bank and the amount of their deposits at the bank, and also inquired whether any members of the Silicon Valley Bank board, executives, or investors received special benefits from the bank, such as credit lines. (source link)