BlockFi, which has been in bankruptcy since shortly after the November FTX collapse, appears to have exposure to the collapsed Silicon Valley Bank. According to a court filing, approximately $227 million in BlockFi funds has been kept in one of several accounts the company maintained at Silicon Valley Bank. The account is a money market mutual fund, meaning it is not FDIC insured.The US Trustee reportedly warned BlockFi counsel on March 6 that the company needed to “immediately take steps to safeguard these funds in compliance with” the depository agreement, because a MMMF was not in compliance. BlockFi responded that the account was FDIC insured (up to the FDIC’s $250,000 limit), but the Trustee maintains that that is not accurate.