Mike Dudas is the founder and former CEO of The Block — launched in 2018 as a crypto news and institutional research publication that became one of the most- read and frequently cited sources of crypto industry intelligence — who built the outlet from scratch before stepping down in January 2020, later returning in 2022, and then becoming a central figure in the controversy surrounding The Block’s undisclosed $27M loan from Sam Bankman-Fried’s FTX that was revealed during the FTX collapse in November 2022, resulting in the resignation of CEO Mike McCaffrey and Dudas returning to lead the organization through the scandal.
Background
Mike Dudas studied at Dartmouth College (B.A.) and Northwestern University’s Kellogg School of Management (MBA). He worked in product and business development roles at:
- Google — Partnership and business development.
- Venmo — Early stage, helping build the peer-to-peer payments company before its acquisition by Braintree/PayPal.
- PayPal — Post-acquisition merchant services.
- Button — A mobile commerce startup as VP of Business Development.
He became interested in crypto and blockchain in 2016-2017 and recognized an opportunity for institutional-quality journalism and research that served professional audiences rather than the retail sentiment-driven content that dominated crypto media at the time.
The Block
The Block was founded in 2018 with a mission:
- Breaking news — Original reporting on exchange events, regulatory actions, fund raises, and protocol incidents.
- Research — Institutional research reports on blockchain metrics, market structure, and protocol analysis comparable in rigor to TradFi sell-side research.
- Data — On-chain and market data tools for institutional subscribers.
The Block grew into a significant institution, becoming the go-to source for breaking crypto news for journalists, investors, and policy professionals.
First Departure (January 2020)
Dudas stepped down as CEO in January 2020, citing his desire to pursue other projects (including crypto investing). Mike McCaffrey succeeded him as CEO.
The FTX Loan Scandal (November 2022)
During the FTX collapse in November 2022, The Block was revealed to have received a $27 million loan from Sam Bankman-Fried through FTX and related entities — funding that had not been disclosed to readers despite The Block covering FTX extensively. CEO Mike McCaffrey had accepted the loan to fund personal real estate and other expenses, according to subsequent reporting.
McCaffrey resigned. The undisclosed funding created a serious conflict-of-interest controversy, as The Block had been covering FTX and its principals while having an undisclosed financial relationship with one of its subjects.
Dudas returned to The Block following McCaffrey’s resignation to lead the organization through the controversy and rebuild editorial credibility. The Block published a detailed accounting of what had occurred.
Post-Scandal Recovery
The Block continued operating after the FTX scandal, rebuilding under new ownership structures. It maintained its institutional research and news operations, though its credibility in the immediate aftermath was damaged and required sustained effort to restore. The Block eventually came under new ownership.
Key Dates
- 2018 — The Block founded; Dudas serves as CEO.
- January 2020 — Dudas steps down; Mike McCaffrey becomes CEO.
- November 2022 — FTX collapse; undisclosed $27M FTX loan to The Block revealed. McCaffrey resigns. Dudas returns.
- 2023 — The Block continues operations under new ownership structure.
Common Misconceptions
- “Mike Dudas approved the FTX loan.” — The available evidence indicates the undisclosed FTX loan and related financial arrangements were made by CEO Mike McCaffrey during the period Dudas was not at the company. Dudas returned because of the scandal, not as one of its architects.
- “The Block closed after the FTX scandal.” — The Block continued publishing. The editorial and financial controversy was serious but the organization survived and operated into 2023 and beyond under restructured ownership and leadership.
Last updated: 2026-04