The Block executive Michael McCaffrey received $16 million in one payment from Alameda and used the funds to purchase an apartment in the Bahamas.
The Block CEO Received 3 Payments of $43 Million From Alameda Research, One Payment Used to Purchase an Apartment in the Bahamas
The news was reported on by the Axios reporter Sara Fischer on Dec. 9, 2022, and the reporter noted that The Block employees got wind of the situation just before the exclusiveAxios noted that The Block’s chief revenue officer, Bobby Moran, will take over the CEO role as Fischer said “McCaffrey has resigned as CEO and is leaving the company.” Moran plans to restructure The Block, and attempt to “buy out McCaffrey’s stake in the company.
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