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Uber’s slow response to law enforcement requests and a complex request process are leaving drivers vulnerable to repeated attacks by riders using fake accounts (Dara Kerr/The Markup)

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Nadeem Sarwar / SlashGear: Sam Bankman-Fried Reportedly Funded Crypto News Site In Secret

Nelson Wang / CoinDesk: Sam Bankman-Fried’s Alameda Research Secretly Funded Crypto Media Site The Block and Its CEO

Brenda Ngari / ZyCrypto: Revealed: Sam Bankman-Fried Secretly Loaned Crypto News Site The Block And Its CEO $43 Million

Bobby Moran / The Block: CEO Transition — Today, Mike McCaffrey is stepping down as CEO of The Block, and I am stepping into that role immediately.

Sarah Kopit / The Block: The Block CEO resigns after failure to disclose loans from Bankman-Fried’s Alameda

Jon Steinberg / The Information: Where Sleep Is Religion, These Are Our Idols

Laurie Dunn / Crypto Daily: Crypto News Platform The Block Was Secretly Funded By FTX

Sarah / Bitcoinist.com: The Block CEO Resigns After Ties With FTX Come To Light

The Economic Times: FTX secretly funded crypto news site The Block: report

Andrew Throuvalas / Crypto Adventure: ‘The Block’ CEO Steps Down Following Revelations of Secret SBF Funding

TechCrunch: The Block founder says he’s exploring ways to get the publication into ‘trustworthy’ hands

Tom Carreras / Crypto Briefing: Sam Bankman-Fried Loaned $43 Million to The Block’s CEO

Web3 is going just great: CEO of crypto media outlet The Block resigns after it’s revealed he took tens of millions in loans from Sam Bankman-Fried

Jamie Redman / Bitcoin News: Report Shows Crypto News Publication The Block Was Secretly Funded by Bankman-Fried’s Alameda

Deniz Saat / BTC Times: Sam Bankman-Fried’s Alameda Research Secretly Funded Crypto News Site

Travis Clark / Insider: Sam Bankman-Fried secretly invested in crypto news site The Block by funneling money to its CEO: report

Mitchell Clark / The Verge: Sam Bankman-Fried secretly handed $27 million to a major crypto news site and its CEO

Yana Khlebnikova / crypto.news: The Block CEO steps down after failing to disclose publication was funded by SBF

Pratik Bhuyan / CoinGape: SBF’s Alameda Research Secretly Financed This Crypto News Website

Joshua Ramos / Watcher Guru: Crypto News Site, The Block, was Secretly Funded by Sam Bankman-Fried

Josh O’Sullivan / CryptoSlate: The Block CEO resigns after failing to disclose $43 million in personal loans from Alameda Research

Turner Wright / Cointelegraph: CEO of crypto news site The Block resigns for failing to disclose $27M loans from Alameda Research

BtcCasey / Bitcoin Magazine: Crypto News Outlet The Block Was Secretly Funded By Alameda Research

Tweets:

Sara Fischer / @sarafischer: 1/2?Exclusive: Crypto news site @TheBlock__ has been secretly funded for over a year w money funneled to its CEO LLCs from #SBF’s @AlamedaResearch –3 loans total: –$12M & $15M loans went to The Block –$16M used by CEO to buy real estate in Bahamas https://www.axios.com/… @axios

Mike McCaffrey / @mccaffrmike: 1/ I have difficult news to share. I’m stepping down as The Block’s CEO. While it’s personally painful, it’s the right thing for The Block and the team.

@autismcapital: A confirmed FTX insider provides more color on the relationship between FTX and The Block: https://twitter.com/…

@tier10k: [DB] The Block Has Been Secretly Funded for Over a Year With Money Funneled to the Block’s CEO From SBF, Sources Told Axios.

Frank Chaparro / @fintechfrank: 1) I’m absolutely gutted by this news, which was briefed to the company this afternoon. Underpinning my shock are feelings of utter disgust and betrayal by Mike’s actions, greed, lack of disclosure. He’s literal scum. He kept every single one of us in the dark. https://twitter.com/…

@punk6529: enjoy this time. it is special. you will remember with nostalgia in a few years. (even the dumb stuff)

Mike McCaffrey / @mccaffrmike: 2/ In early 2021, The Block was in a precarious place, and I was evaluating whether to sell, merge or restructure. The only option that materialized was to restructure when I was able to obtain a $12 million loan for my holding company from SBF in Feb of 2021.

Nathaniel Whittemore / @nlw: Easy bro. Make it right by distributing your shares amongst employees and investors who didn’t know about your fraud. Do the right thing and see what your team built thrive… or slink off with equity worth nothing anyway. Seems simple. https://twitter.com/…

@zhusu: Larry has “lots of funds stuck on FTX,” tweets about actively trading on news and exch listings, while having zero disclosures on those. Steven has “angel investor” in his profile while having zero disclosures on those. Frank’s podcast was literally sponsored by FTX.

@lawmaster: @ercwl I think the cherry on top is that I accidentally leaked my boss’s secret loans from Alameda on Tuesday unknowingly. It’s in this sheet https://twitter.com/…

Mike McCaffrey / @mccaffrmike: 7/ I apologize to my teammates at The Block. I am truly sorry for the lack of judgment. I have full confidence in the team to continue what they do best – delivering clear-eyed research and news in a space that now needs it more than ever.

Kyle Davies / @kyleldavies: Dudas and Co, crack me up. Self proclaimed guardians of something, suckled the bosom of SBF, promote scams full time, flailing to find a new narrative to cling to. Sheep in need of a new shepherd

Albert Wenger / @albertwenger: While I feel bad for people who were scammed, the #FTX #Alamada #SBF story really is the gift that keeps on giving https://twitter.com/…

Danny Nelson / @realdannynelson: Mike McCaffrey had a secret penthouse in the Bahamas but he was too cheap to buy his own $30 drink. I hope you enjoyed that Macallan, buddy. I didn’t appreciate the bill.

Dan Held / @danheld: Holy shit. Just when I thought the FTX drama had ended. https://twitter.com/…

Ben Hunt / @epsilontheory: Between the collapse of crypto ad spend and the elimination of Bankman-Fried’s shadow funding, is ‘crypto media’ even a viable business model? I don’t see how it possibly is. https://twitter.com/…

Larry Cermak / @lawmaster: Last few months really can’t get much worse. Got fucked by FTX (after naively trusting them like a complete idiot) and now also got fucked by the CEO. Just like everyone else at The Block, I just found out about this. https://twitter.com/…

Mike McCaffrey / @mccaffrmike: 4/ I didn’t disclose the loan to anyone. Absolutely no one at The Block knew about the financial arrangement between my holding company and SBF, including the editorial and the research teams.

Alex Mashinsky / @mashinsky: As long suspected, major Crypto media was publishing false and misleading stories about Celsius and almost never covered any positive news Now we know why SBF/FTX saw Celsius as a critical competitor and wanted all these users for himself at all costs https://www.axios.com/…

@zhusu: The idea that the CEO of the Block has been bribed massively, that the company has been de facto wholly owned by SBF for years now, yet the underlying reporting was solid, is mindboggling. SBF was solo source for many of their “scoops.” He ran the entire editorial direction.

Frank Chaparro / @fintechfrank: 3) Had I known about this, I would have not only called it out and disputed his actions, but called for an immediate change in leadership. Putting aside the FTX meltdown, there is no excuse for his deception and disregard for the 160 people who work at The Block.

@twobitidiot: I’ve tried to operate ethically in this space for a decade but I’m starting to just feel guilt by association at this point. Disgusted and signing off.

@coinmamba: I always wondered why Block was making so many stories about Solana projects. Every day there was a story how some Solana project has raised couple millions.. https://twitter.com/…

Mike Dudas / @mdudas: This is a lie on numerous levels. We had multiple sources of capital available, but Mike blocked them all. I was negotiating with a terrorist. https://twitter.com/…

@btcgandalf: 1/ Where SBF spent FTX customer’s funds: – Making Binance/CZ richer by buying out their stake in FTX. – Purchasing real estate for himself, his parents, and Alameda employees. – Bankrolling The Block including loaning the CEO money to purchase Bahamian real estate.

@cobie: @mdudas … So what actually happened? Mike (the other guy) was taking loans from SBF and putting the $ into The Block in exchange for favourable press?

@econoar: I don’t think there was a conspiracy among Block employees to promote SBF due to the CEO loans. They likely had no idea. However, it was genuinely frustrating watching most all crypto media worship SBF and his projects without any criticism until the very end of the collapse.

@iamdcinvestor: ok, i’ll bite, who in the actual fuck is Mike McCaffrey? never heard of the slime bag before today second question: did he get unsecured loans from SBF/FTX/Alameda, or did he use his equity in The Block as collateral for the loans (or some other collateral)?

@cokiehasiotis: I trusted my gut and left @TheBlock__ in 2021. Based on my time as Mike McCaffrey’s Chief of Staff, I knew it was only a matter of time before he did irreparable damage to the company & its reputation because he is not a man of integrity https://twitter.com/…

Mike Dudas / @mdudas: i have informed the new ceo of the block bobby moran that i would like to speak with him imminently there is a large group of honest people with capital, connections and a deep interest in honest crypto research & journalism who would like to ensure the block’s continued success

Mike Novogratz / @novogratz: Can we all move on from @SBF_FTX , @Mashinsky , @TheBlock__ , @zhusu and all the other scammers who have brought shame onto our industry. Delete them. Block them. Let the authorities deal with them. And let’s move on the best we can to restore credibility to crypto.

Shas / @xbt002: 1) I joined The Block in September as a long-standing critic of SBF, and the obvious cross-cubicle relationship between FTX and Alameda. I obviously had no knowledge of this, and it disgusts me. https://twitter.com/…

Ian Kar / @iankar_: Have said this before but reallyyyy think people should look into SBF having a stake in NYTimes, esp after the news around The Block. The NYTimes is publicly traded so SBF could have bought into it way more easily. And he’s bought his way into other public co’s, like Robinhood.

@zhusu: Some unironic CT views I’ve seen: 1) ftx fraud doesn’t matter, do another token and all is forgiven 2) doesn’t matter if ftx orchestrated attack on luna/ust, would’ve failed anyway 3) CEO of The Block was bribed by SBF, doesn’t mean any of the reporting was biased

Casey Johnston / @caseyjohnston: im no rocket scientist but it seems like we should strive for a fourth estate where every tech outlet doesn’t dive headfirst into the pockets of every new millionaire https://www.axios.com/…

@cobie: @AutismCapital I mean I get a good witch hunt n stuff but is this saying that Frank was favourable to FTX in 2020 because his boss would accept secret funding and a penthouse from Sam in 2021?

@lawmaster: @Lord_Ashdrake @AutismCapital Yea whoever that is is totally right I stood up for FTX when I said I thought near 0% chance that they are in trouble. Luckily I also advised everyone to take out money anyways. Obviously, in retrospect, I regret tweeting that but haven’t deleted.

Frank Chaparro / @fintechfrank: We wrote our first story on SBF in 2019 – Our events team has co-hosted events with a number of firms inc Genesis and Fidelity – I have interviewed as many FTX execs as Coinbase execs on my podcast https://twitter.com/…

Mike McCaffrey / @mccaffrmike: 5/ My rationale – undoubtedly poor judgment in hindsight – was that knowledge of the loan might be seen to compromise the objectivity of their coverage of SBF and his related entities.

Vance Spencer / @pythianism: in every case, it is important to not confuse the wrongdoing of a CEO with the wrongdoing of an entire company

Frank Chaparro / @fintechfrank: Based on new information that’s come to light I plan to speak with my colleagues about ensuring that Mike McCaffrey no longer controls a majority stake in the company or leaving

@sassal0x: Just woke up to the news My heart goes out to the good people at The Block – they didn’t deserve this and I’m confident they’ll bounce back from it.

Mike Dudas / @mdudas: .@lawmaster and @fintechfrank are two of the best in the world at their crafts. They tolerated defamation crypto billionaire bullies and their armies slung their way with little financial reward always amazed me. You put a mark on their names, you’re my blood enemy forever.

@tier10k: Eventful day huh Condolences to all at The Block employees for being informed of this on a Friday btw if you see DB News LLC on the Bahamian land registry, my identity got exposed in the Equifax data breach Have a good weekend ?

Ben Hunt / @epsilontheory: I mean … what are we even doing here, people? https://twitter.com/…

@bitcoinissaving: It all makes sense now. https://twitter.com/… https://twitter.com/…

Nathaniel Whittemore / @nlw: The next time he gives the “aw shucks I goofed” routine, ask yourself what kind of person would be secretly funneling money for positive coverage for more than a year. That. Shows. Intent. Despicable. https://twitter.com/…

@jeetsidhu_: what does it mean? https://twitter.com/… https://twitter.com/…

@defiyst: According to SBF, the prime Bahamian real estate was reserved for FTX employees only. This doesn’t seem to be the case https://twitter.com/… https://twitter.com/…

Frank Chaparro / @fintechfrank: 2) I put my trust in him to run The Block as an independent media entity as CEO and majority shareholder — and was misled. This is really painful because I’ve put many years into shaping The Block into what it is today. I also thought of him as a friend.

@lawmaster: I am proud of the 30+ person research team I built and will keep going with the new The Block leadership. It all really fucking sucks and I’m completely exhausted. Will be doing what truly matters and that’s less Twitter and more time with my 4 month old daughter and my wife.

@lawmaster: Needless to say I didn’t benefit from Mike’s personal loans in any way. In fact, I lost roughly the same amount on FTX as I made from The Block’s compensation and bonuses since joining 4 years ago. I never borrowed money from anyone either.

Frank Chaparro / @fintechfrank: 4) My track record as an independent reporter in the crypto space over the last five years speaks for itself. That’s evident as recently as my no holds barred interview with Sam Bankman-Fried just last week.

@coffeebreak_yt: Wtf. Was everyone in crypto taking money from this guy? https://twitter.com/…

@hsakatrades: We were so busy shitting on Trad media, we forgot to look in our own backyard. Among all the bodies washing ashore post FTX era, this is among the most putrid. Will take a while to reestablish credibility. The goblin priced The Block at ~2x of Kevin O’Leary

@hsakatrades: The goblin bought every entity that could serve as its mouthpiece. There was always a distinct difference in the tone between pieces covering SBF/FTX/Alameda and other exchanges. Always been hyper cynical, but do extend the benefit of doubt to the employees being in the dark. https://twitter.com/…

Mike McCaffrey / @mccaffrmike: 6/ I never attempted to influence coverage of FTX, Alameda or SBF. Nevertheless, my decisions undermine the credibility of The Block – and the talented people who work non-stop to cover this complicated and evolving industry.

@tier10k: One $16m batch of funding from Alameda was used in part to purchase of an apartment in the Bahamas for Block CEO Michael McCaffrey McCaffrey has resigned as CEO and is leaving the company The newsroom was informed in an all-hands meeting early Friday afternoon. 1) What https://twitter.com/…

Mike Dudas / @mdudas: one thing about the unfortunate block news today every scammer: “look, the entire enterprise was compromised from day one, i’m totally vindicated even though civil and criminal courts will rek me soon” normals: “this is really sad, that unethical ceo f*cked the honorable team” https://twitter.com/…

@twobitidiot: If @mdudas really wants to try to buy back The Block, I’ll support him if I can. Or pursue the business myself. The top news desks serve as critical checks on industry excess, AND entities that provide oxygen to all of the good in crypto. Good journalism is undervalued.

@axios: The Block, a media company that says it covers crypto news independently, has been secretly funded for over a year with money funneled to the CEO from Sam Bankman-Fried’s cryptocurrency trading firm. https://www.axios.com/…

Ryan Weeks / @ryanjamesweeks: Depressing, baffling news. What angers me most is that we are now forced to defend our work – which I’ve been particularly proud of this year – because of the actions of one person. Bitterly disappointing. https://twitter.com/…

Mike Dudas / @mdudas: This is false. Get ready from more of this from “citizen journalists”. This is why @McCaffrMike’s betrayal is so devastating. https://twitter.com/…

@iamdcinvestor: this is…not great i hope and expect that @TheBlock__ @fintechfrank will be as forthcoming about this situation as possible, and will established enhanced governance and processes to ensure such a potential conflict of interest does not arise again https://twitter.com/…

Maya Parody / @mayazi: List of media outlets SBF invested in to drive his image while he was “distracted” (that we know of): – the Block – Semaphore – Axios But it’s just crypto ppl who think the entire coverage of FTX was biased https://www.reuters.com/…

Jesse Powell / @jespow: Shocking but not surprising. Every “journalist”, editor and publication observed openly fellating Sam’s cucumber in the past month needs to be investigated. https://twitter.com/…

@autismcapital: Axios reports that The Block has received over $27M in funding from Sam/FTX including financing for a $16M apartment in Albany for Block CEO Michael McCaffrey. https://www.axios.com/…

Michael Saylor / @saylor: Sam used stolen & counterfeit money to corrupt the establishment & undermine #bitcoin. This is just the tip of the iceberg. How many other journalists, academics, money managers, politicians, charities, influencers, & lobbyists did he corrupt or co-opt? https://www.axios.com/…

Adam Cochran / @adamscochran: Honestly anyone questioning Frank or Larry here is a dumbass. When I started raising issues about FTX, Frank was one of the only people to take it seriously & investigate and he worked his ass off fielding leads while other outlets wrote fluff pieces. https://twitter.com/…

Zach Segal / @zosegal: I’ve been in crypto for a decade and seen many meteoric rises and falls. This looks bad. However, I still believe @lawmaster and @fintechfrank are high integrity, and this looks like an enormous betrayal of trust by their former leader. https://twitter.com/…

Ben Armstrong / @bitboy_crypto: You can’t understate how important this is. I’ve been telling you Alameda had an entire propaganda arm that disseminated misinformation at will regarding projects, individuals, & exchanges. Time to pull the thread and see how deep it goes. https://twitter.com/…

Mike Dudas / @mdudas: Horrifying. Devastated beyond belief. I was given less than an hour’s heads up by the CEO of @TheBlock__. If you think you’re shocked, I’m literally lost right now. https://t.co/J0MH1wDrfz

Hudson Jameson / @hudsonjameson: I 100% trust that @fintechfrank, @lawmaster, and the rest of the journalists and researchers at The Block were in the dark about this awful leadership decision. Some people are not going to believe them, but if you do believe them consider publicly or privately expressing that. https://twitter.com/…

Dan Diamond / @ddiamond: Former POLITICO revenue chief Bobby Moran stepping in as The Block’s new CEO. https://medium.com/… https://twitter.com/…

Josh Constine / @joshconstine: This is nuts and underscores why editorial independence from ownership is critical. If you let someone tell you what or how to write, you can’t be sure of their motives. Good to hear The Block’s team didn’t know, and has been fiercely critical of SBF https://www.axios.com/…

@tomaxwell: This is really tough for me, but today I’m coming clean I have also received $43 million from FTX, including $18 million which went towards my condo in Nassau

Charles Hoskinson / @iohk_charles: Remember all that anti-cardano coverage… https://twitter.com/…

Jeff Roberts / @jeffjohnroberts: Block statement addresses editorial concerns of SBF scandal but not financial ones. So: Did CEO pledge any of Block’s assets as collateral? What were terms of the loans? Is Block in financial jeopardy if receiver overseeing FTX bankruptcy calls in the loans?

Luke Martin / @venturecoinist: So SBF actually owned the Block too… ‘The Block CEO received three loans. The first was $12 million and was used in 2021 to buy out other investors.’ Starting to think I’m the only one that didn’t receive funding from SBF last year. https://www.theblock.co/…

@robinwauters: I also know a publication with a, let’s say *interesting* cap table, constant lack of disclosures and conflicts of interest ??? https://twitter.com/…

Tero Kuittinen / @teroterotero: I mean crypto boyz keep the drama alive https://twitter.com/…

Lyn Alden / @lynaldencontact: Another week, another revelation for how deep SBF’s monetary tentacles extended throughout the industry. https://twitter.com/…

John Biggs / @johnbiggs: Amazing. I mean arguably Coindesk lives on Barry Silbert’s cash as well but this is some super cheeseball stuff from McCaffrey. SBF secretly funded crypto news site https://www.axios.com/…

@swagtimus: Every day I think to myself the crypto industry can’t possibly become more of a clown show, and every day I get proven wrong. Note: I have respect & empathy for the employees, this is directed at their former CEO. https://twitter.com/…

Cope / @timccopeland: Here’s our official statement. Please read. https://www.theblock.co/…

Colin Wilhelm / @colinwilhelm: Some news about our company that the newsroom learned this afternoon. We have provided, and will continue to provide, independent coverage. https://www.theblock.co/…

@amuse: The dominos are still falling… https://www.theblock.co/…

Jacquelyn Melinek / @jacqmelinek: Former CEO McCaffrey received 3 loans from SBF in total: – $12M in 2021 to buy out The Block – $15M loan in January to fund day-to-day operations – $16M earlier this year to buy real estate in the Bahamas https://www.theblock.co/…

@theblock__: CEO Transition https://medium.com/…

Adam Cochran / @adamscochran: The important tagline here is “without the newsroom’s knowledge” so we should want the execs out and newsroom keeping on. Some BS on the part of leadership there. https://twitter.com/…

Alexandre Lores / @alexandre_lores: Not to be confused with @TheLatestBlock! @MatiGreenspan @ger313 @_CryptoCurator https://twitter.com/…

Jeff Giesea / @jeffgiesea: I feel for @mdudas @fintechfrank and employees of the crypto-focused media company @TheBlock__. By all indications they were blindsided by news of their CEO’s sketchy, undisclosed financial relationship with SBF. Disgraceful. https://www.axios.com/…

Sara Fischer / @sarafischer: @TheBlock__ … 2/2 The site has never disclosed any connections to SBF or Alameda –Employees had no idea, found out today –CEO resigning and stepping off Board –Company will look to restructure to buy out CEO’s stake (He’s currently majority shareholder) Read on @Axios: https://www.axios.com/…

Adam Cochran / @adamscochran: Wait, this included a fucking personal $16M loan for the CEO to buy Bahamas real estate? What the utter fuck. https://twitter.com/…

Sam Ro / @samro: “$16M used by CEO to buy real estate in Bahamas” https://twitter.com/…

Anthony DeRosa / @anthony: The Block, a media company that says it covers crypto news independently, has been secretly funded for over a year with money funneled to The Block’s CEO from the disgraced Sam Bankman-Fried’s cryptocurrency trading firm https://www.axios.com/…

@fredbenenson: ah yes, it is the mainstream press that SBF has had under his thumb, yes yes https://twitter.com/…

Alexander Grieve / @alexandergrieve: His tentacles are everywhere. IMO all the proof needed that @TheBlock__ employees didn’t know / weren’t coerced into favorable FTX reporting is the grilling of SBF last week by @fintechfrank ? Great people there, who don’t deserve this. (I feel like this is a recurring theme) https://twitter.com/…

Dominik Schiener / @domschiener: This is why Crypto can be so frustrating. You don’t know who pays who, and what their (hidden) incentives are. Some people are only interested in protecting and pumping their own bags. They’re not here to decentralize, they are here purely for selfish gains. Good riddance. https://twitter.com/…

Jeff Roberts / @jeffjohnroberts: The Block is latest to be covered with SBF slime. They will be fine. Block has a strong bench with Frank, Larry et al and I hear it’s adding media grown-ups to its board. This will pass The lesson (again) for crypto is stop putting faith into whiz kids and hype. https://twitter.com/…

Mike Novogratz / @novogratz: Do people still “believe” SBF?? Enough already!!! https://twitter.com/…

@coffeebreak_yt: My heart goes out to the journalists at the Block who reportedly didn’t know. that’s going to be a stain on the company that’s hard to erase. https://twitter.com/…

Sarah Emerson / @sarahnemerson: “The payments, which employees of The Block were previously unaware of…” https://www.axios.com/…

Rat King / @mikeisaac: this is nuts. feel bad for the editorial staff who didnt know how much the (now former) ceo was totally screwing them https://www.axios.com/…

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