The Block, a media organization that covers cryptocurrency news independently, has been covertly financed for more than a year with money that has been channeled to The Block’s CEO from the infamous FTX founder <a href="https://coingape.com/tag/sam-bankman-fried/">Sam Bankman-Fried</a>. The payouts, which The Block staff members were previously unaware of, might compromise the news organization’s reputation and raise questions about its coverage of SBF, the now-defunct FTX, and its trading firm, <a href="https://coingape.com/tag/alameda-research/">Alameda Research</a>.

U.S. lawmakers have penned a letter pressing Federal Reserve Chairman Jerome Powell for information on American banks’ ties to crypto following the collapse of FTX.&nbsp;

Ren Protocol, an Alameda-funded issuer of a wrapped bitcoin asset called renBTC <a href="https://twitter.com/renprotocol/status/1600559366440390657">warned</a> its users of the potential risk of losses after it shuts down its existing product.&nbsp;

Federal law enforcement is in touch with former FTX employees as part of a criminal investigation into the failed exchange and its sister hedge fund Alameda Research.&nbsp;

Alameda’s investments included high-profile companies like SpaceX, and a variety of crypto tokens like Polygon (MATIC), and NEAR.&nbsp;

Sam Bankman-Fried, the former Chief Executive Officer (CEO) of now-bankrupt cryptocurrency firm FTX has recently made some intriguing revelations.

On Saturday (3 December 2022), Coinbase Co-Founder and CEO commented on the interview that Sam Bankerman-Fried (aka “SBF”), the disgraced co-founder of Alameda Research and co-founder and former CEO of bankrupt crypto exchange FTX, gave to Bloomberg recently at $30 million his Bahamian penthouse apartment.

Alameda Research, the trading firm closely related to embattled exchange FTX, invested $1.15 billion into crypto miner Genesis Digital Assets.&nbsp;

In contrast to Sam Bankman Fried’s recent claims that he wasn’t aware of Alameda’s position, Forbes recently <a href="https://www.forbes.com/sites/chasewithorn/2022/12/02/exclusive-sam-bankman-fried-knew-plenty-about-his-alameda-research-hedge-fundand-sent-details-to-forbes-just-months-ago/?sh=79807d09303d">released</a> its communication with SBF when drafting their billionaires’ list, indicating that he was well versed in Alameda’s finances.

Sam Bankman-Fried, former chief executive officer of failed cryptocurrency exchange FTX, seemed to point to the activities of his company’s brokerage arm as the reason his business collapsed, when he spoke at the New York Times DealBook Summit on Wednesday.&nbsp;