The CEO of crypto news site The Block is resigning for failing to disclose $27 million in loans from Alameda Research By Cointelegraph
Bobby Moran of crypto news site The Block has announced that he will take over as CEO following the resignation of Mike McCaffrey, who allegedly funded the platform through loans from Alameda Research.
In a Dec. 9 announcement, Moran said McCaffrey made a leadership decision to restructure The Block in 2021, which included two loans totaling $27 million from Alameda Research — a hedge fund that became part of the former’s FTX Group Owned by CEO Sam Bankman-Fried. Axios reported that there was also a third $16 million loan in 2022 that McCaffrey used to purchase property in the Bahamas.
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