Business News

Crypto news website The Block received loans from Alameda Research

Photo of Flavien FlavienDecember 12, 2022
1 minute read
Crypto news website The Block received loans from Alameda Research

A report by Axios details three loans made by Sam Bankman-Fried through Alameda to now former The Block CEO Michael McCaffrey, totalling $43 million, from April 2021 to last Spring.

The first loan was used by McCaffrey to fund the buy out of The Block, making McCaffrey the main shareholder of the company. The second loan was used as capital for the news company.

Reportedly, a third loan from this spring, for $16 million was used to buy an apartment in the Bahamas.

According to his replacement Bobby Moran, who was until then Chief Revenue Officer, no one at the Block had any knowledge of this funding.

Stay ahead of the game with our Crypto News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.

Photo of Flavien FlavienDecember 12, 2022
1 minute read
Photo of Flavien

Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button