Crypto news site The Block lays off staff

The Block, a crypto media company that got caught up in a funding scandal related to disgraced FTX founder Sam Bankman-Fried, has laid off roughly one-third of its staff, reports Sara Fischer of Axios.

Fischer reports, “The company announced Friday in a note to staff that it has appointed its longtime head of research, Larry Cermak, to the position of chief executive officer, a move Cermak later confirmed on his Twitter account.

Cermak has replaced Bobby Moran, the company’s interim CEO, who was laid off as part of the cuts.
Every department was impacted by the layoffs, but not equally. A spokesperson confirmed that The Block’s revenue team was scaled back significantly given the current market conditions.
The company has also brought on Evgeny Gaevoy, CEO of digital asset trading firm Wintermute, to join its board alongside Cermak. A spokesperson noted that the company plans to announce another board member soon.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.