Crypto news site The Block has hired Bloomberg News social media czar Sarah Kopit as its editor in chief as it plans to quadruple the size of its newsroom, reports Steven Perlberg of Insider.
Perlberg writes, “Kopit’s appointment comes during an arms race for journalists among the crop of crypto-focused news outlets, such as Decrypt, Coindesk, and Blockworks — which recently appointed WSJ alum Dan Keeler as its editor-in-chief — and traditional business publishers such as Insider and Bloomberg News, the latter of which this month launched a new weekly TV program ‘Bloomberg Crypto.’
“The Block CEO Michael McCaffrey said the goal is to build the company’s newsroom to between 70 and 100 journalists over the next 24 months, up from its current staff of about 20.
“Founded in 2018, The Block, which has grown to more than 120 employees from about 35 at the beginning of 2021, pairs news with a paid research arm. Its clients include Goldman Sachs, Stripe, Paypal, and sovereign wealth funds, according to a person familiar with the business. The Block raised about $4 million of funding prior to a management buyout last year, and now says it is 100% employee-owned.”
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