U.S. lawmakers send letters to Silicon Valley Bank clients, including Circle and BlockFi, asking them to explain their relationship with Silicon Valley Bank

U.S. Senator Elizabeth Warren of Massachusetts and Representative Alexandria Ocasio-Cortez of New York wrote to 14 of Silicon Valley Bank's largest depositors, raising concerns about the failed bank's ties to some venture capitalists and tech founders, according to Bloomberg. , companies that received this letter include USDC issuer Circle, encrypted lending platform BlockFi, metaverse platform Roblox, and companies in other industries. The lawmaker asked companies to explain the length of their relationship with SVB and the amount they had deposited with the bank, and also asked them if SVB board members, executives or investors had received special benefits from the bank, such as a line of credit, the lawmaker said. We asked the companies to provide answers to these questions by April 24.