Journalist and announcer on the crypto market The block For many years, the website was one of the main news sources of its followers around the world. As it turns out, The Block has been funded by Sam Bankman-Fried for some time.

While the authors of the site do not know the source of the payments, the discovery of the source as the founder of FTX can of course raise credibility issues in the eyes of readers. Bankman-Fried, currently sunk FTX and Alameda ResearchHe is known as the founder of .

He allegedly bought a house in the Bahamas with FTX coins

from Alameda $16 million part of a payment The Block CEO by Michael McCaffrey It was alleged that he used it to buy an apartment in the Bahamas. Earlier, The Block was taken over by its writers and creators. At the end of this process, McCaffrey, the current CEO, acquired most of the shares and joined the board of directors.

After the latest news, the manager of the company arranges the income Bobby Moranwas named CEO, replacing McCaffrey. McCaffrey also resigned his board duties.

McCaffrey, for the companies he has founded to date Bankman fried It received millions of dollars in payments from companies under its control. McCaffrey first received $12 million in April 2021, then $15 million in January 2022 and $16 million in the spring. On the other hand, it was argued that The Block never received direct payments from Bankman-Fried or McCaffrey’s companies.