The Block CEO resigns over SBF fraud

Yugocean

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Michael McCaffrey, CEO of popular cryptos News Agency The Block has resigned for misusing funds the Block received secretly from Bahamas based scam king Sam Bankman-Fried.
 
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Magnus2022

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It is important that he resign because it is unbecoming of such manager of a reputable organization to soil the integrity of the organization like that. Secondly, he will definitely face the law, therefore whether he resigned or not, the hand of the law have grabbed him already.
 

Yugocean

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It is important that he resign because it is unbecoming of such manager of a reputable organization to soil the integrity of the organization like that. Secondly, he will definitely face the law, therefore whether he resigned or not, the hand of the law have grabbed him already.
Which law?
There is already no such law to do anything against him, his crime is committed in Bahamas, and he is clean there.
 

Carson20t

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The cryptocurrency industry has received so many backlashes due to such dealings among other factors like the decline in value of the major or top coins. This has prompted a lot of traditional investors to build on their defence that cryptocurrency is not a bankable asset but rather a highly risky asset.

This is a wake-up call for many CEOs not to accept gift donations from business moguls as some of the resources may be proceeds of crime. The other thing is that such dealings signal that people are using their positions to help fraudsters to get away with financial crimes.
 
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Carson20t

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Like I don't get my brother. FTX was already a sinking ship. No amount of laundering of image could bring it up again.
I have not followed through exactly if FTX was trying to defend itself and the reason why they had to go that path of sinking. All I know is that they scammed people. So do you have the information that might have led FTX to declare bankruptcy? Because everything seemed well.
 
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