Illustration by Alex Castro / The Verge
Sam Bankman-Fried, former CEO of failed crypto exchange FTX, loaned $27 million to Michael McCaffrey, the CEO of crypto publication The Block, to help it stay afloat, according to a Medium post from the site’s chief revenue officer, Bobby Moran. Bankman-Fried also loaned McCaffery $16 million, some of which helped him purchase property in the Bahamas, where FTX is headquartered, according to Axios, which broke the story.
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