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Crypto media site The Block (a competitor to CoinDesk) was secretly funded over the last two years by Sam Bankman-Fried’s Alameda Research. The Block’s CEO, Michael McCaffrey, immediately resigned after the loans came to light, and will also step down from The Block’s board. McCaffrey received three loans for a total of $43 million. The first loan was for $12 million in 2021 the second was for $15 million in January and the third was for $16 million.
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