Bobby Moran of crypto news website The Block has announced he will be assuming the position of CEO following the resignation of Mike McCaffrey, who reportedly financed the platform through loans from Alameda Research.
In a Dec. 9 announcement, Moran said McCaffrey had made an executive decision to restructure The Block in 2021, which involved two loans totaling $27 million from Alameda Research — a hedge fund part of former CEO Sam Bankman-Fried’s FTX Group. Axios reported there was also a third $16-million loan in 2022 that McCaffrey used to purchase property in the Bahamas.
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