Bobby Moran of crypto news web site the Block has introduced he will likely be assuming the place of chief government officer following the resignation of Mike McCaffrey, who reportedly financed the platform by loans from Sam Bankman-Fried’s Alameda Research.
In a Dec. 9 announcement, Moran stated McCaffrey had made an government choice to restructure The Block in 2021 which concerned a sequence of loans totaling $27 million from Alameda Research, a hedge fund half of former CEO Bankman-Fried’s FTX Group. According to Moran, the previous CEO of The Block failed to disclose the loans to the site’s management staff, demonstrating “a serious lack of judgment.” The platform’s management requested Moran to step down.
“No one at The Block had any knowledge of this financial arrangement besides Mike,” stated Moran. “From our own experience, we have seen no evidence that Mike ever sought to improperly influence the newsroom or research teams, particularly in their coverage of SBF, FTX, and Alameda Research.”
I’m completely gutted by this news, which was briefed to the corporate this afternoon,” said The Block’s editor-at-large Frank Chaparro. “Underpinning my shock are emotions of utter disgust and betrayal by Mike’s actions, greed, lack of disclosure. He’s literal scum. He stored each single one of us at nighttime.”
Clear SBF was a reckless moron and so was our former CEO
— Frank Chaparro (@fintechfrank) December 9, 2022
This story is creating and will likely be up to date.