Axios reported on Friday that cryptocurrency exchange FTX secretly funded media company the Block for over a year by sending money to the Block’s CEO. Employees at The Block were previously unaware of the payments, according to the report. Reuters previously reported that regulators around the world, including in the Bahamas, where FTX is based, and the United States, are looking into the role of FTX’s top executives in the firm’s stunning collapse. The cryptocurrency exchange declared bankruptcy last month, following a liquidity crisis that resulted in the loss of at least $1 billion in customer funds.
