May 8, 2024

FTX Allegedly Secretly Funded Media Company the Block, According to Axios Report

According to a report by Axios, cryptocurrency exchange FTX secretly funded media company the Block for over a year by sending money to the Block’s CEO. The Block’s employees were reportedly unaware of the payments. FTX has not commented on the report, and former CEO Sam Bankman-Fried has not responded to requests for comment. Regulators in the Bahamas, where FTX is based, and in the US are currently investigating the role of FTX’s top executives in the company’s bankruptcy filing last month, which followed a liquidity crisis that resulted in the loss of at least $1 billion in customer funds.

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