Sam Bankman-Fried Was Secretly Funding Crypto News Sites, Axios Reported

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He added: “This news came as both a shock and disappointment to The Block leadership team. Mike’s decision to take out a loan from SBF and not disclose that information demonstrates a serious lack of judgment. It undermines The Block’s reputation and credibility, especially that of our reporters and researchers, as well as our efforts at industry-leading transparency.”

Over $16 million of funding from Alameda was used in part to purchase an apartment in the Bahamas for McCaffrey, Axios reported. 

FTX filed for bankruptcy last month, and Bankman-Fried stepped down as CEO. He tweeted on Friday that he would agree to testify next week before a House Committee on the implosion of FTX.