basisBomb Attack ReportAccording to Axios, Michael McCaffrey, CEO of The Block, a digital currency news media, left his post after the company secretly accepted the help of Sam Bankman Fried, the defeated founder of FTX
McCaffrey took office in April 2020, and he walked away from the shareholders' meeting of this infamous data encryption media company (he is the only member)
In April 2021, Block bought out the equity of non employee shareholders, claiming that it was different from outside interests. From the very beginning, the website was able to maintain its business through venture capital
However, according to Axios, the recovery was made through the covert support of a loan of 12 million US dollars from Bankman Fried, a limited company (LLC). At the beginning of 2022, the mall can also win a loan of 15 million dollars from the founder of FTX. McCaffrey asked her to buy an apartment in the Bahamas as part of the $16 million loan she received from Bankman Fried in the spring
It is reported that the employees of the company do not understand the occurrence of such transactions.
Bobby Moran, the top revenue officer, has succeeded the new CEO of the media. He is going to reorganize the business to buy out his ex boyfriend's executive equity. Although the news media seems to encounter financial risks, Moran indicated that it will continue to operate
Before adding The Block, McCaffrey officially started its financial industry in Goldman Sachs and Citibank