Asia Fund Takes Majority Stake in Firm Once Backed by Bankman-Fried Loan
- Ex-CEO of The Block resigned after failing to disclose loans
- Foresight Ventures acquires majority stake in media company
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In yet another example of how crypto is moving on from FTX, a Singapore-based investor is taking a majority stake in crypto news publication The Block after a succession of leadership changes. The media company had been seeking to rid itself of any remaining association with a former CEO who had accepted clandestine loans from Sam Bankman-Fried’s Alameda Research.
Foresight Ventures acquired a majority stake in The Block in a deal with that former executive, Michael McCaffrey, according to representatives for both the VC fund and the media company.