Hoskinson believes the funding is responsible for negative reports about Cardano.
In a recent report, CNN Media analyst Sara Fischer revealed that FTX founder Sam Bankman-Fried (SBF) secretly funded cryptocurrency news outlet The Block, and its CEO Michael McCaffrey, for over a year.
Details of the Funding
According to Fischer, The Block’s CEO received three loans from SBF, totaling $43 million from 2021 to this year. The first loan worth $12M was part of SBF’s efforts to buy out investors in the crypto media company in April 2021. In January 2022, SBF provided another loan worth $15 million to fund The Block’s daily operations.
Thirdly, SBF also loaned The Block’s CEO a whopping $16 million earlier this year to enable him to acquire private real estate.
McCaffrey resigned as CEO after the secret loan was brought to light, with Bobby Moran, The Block’s Chief Revenue Officer, stepping into the CEO role.
Reacting to the development, Moran said in a statement:
„Мојата непосредна реакција беше гнев, фрустрација и загриженост за сите мои колеги. Сите работеа неверојатно напорно во текот на годините - од пред да се приклучам и откако сум овде - за да бидат фер, точни и независни во нивното покривање, и мислев дека ова ќе го доведе тоа во прашање. И тоа е фрустрирачко“.
Реагира основачот на Кардано
The report has prompted a series of reactions from members of the crypto industry. Many have started doubting the credibility of The Block’s FTX, SBF, and Alameda Research coverage.
Cardano founder Charles Hoskinson is among the top crypto players who commented on SBF’s secret loan to The Block. Hoskinson took to Twitter to remind ADA enthusiasts about the recent negative coverage Cardano has gotten.
“Remember all that anti-Cardano coverage,” твитна Хоскинсон.
Remember all that anti-cardano coverage… https://t.co/LPyszeLhHm
- Чарлс Хоскинсон (@IOHK_Charles) Декември 9, 2022
Hoskinson has often lamented the lack of cryptocurrency media and VC’s support for Cardano. He believes that most crypto media outlets quickly publish negative reports about Cardano.
- Оглас -
Source: https://thecryptobasic.com/2022/12/10/cardano-founder-reacts-as-sbf-secret-funding-to-the-block-news-outlet-comes-to-light/?utm_source=rss&utm_medium=rss&utm_campaign=cardano-founder-reacts-as-sbf-secret-funding-to-the-block-news-outlet-comes-to-light