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Crypto Media Company Tied to FTX Cuts Third of its Staff

“We grew too quickly to capitalize on a bull market in crypto.”

Maddy Troy

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The Block, a crypto media company that got caught up in the infamous FTX funding scandal, has laid off roughly one-third of its staff as part of a broader leadership restructuring move. 

The mass layoffs are an effort to stabilize and strengthen the company’s position, in wake of the FTX scandal.

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. Cermak later confirmed on his Twitter account. He will replace Bobby Moran, the company’s interim CEO, who was laid off as part of the cuts, according to Axios.

Every department at the company has been impacted by the layoffs, but not equally. A spokesperson confirmed that The Block’s revenue team was cut back significantly due to the current market conditions.

The Block has also brought on Evgeny Gaevoy, CEO of digital asset trading firm Wintermute, to join its board, serving alongside Cermak. 

“We are not immune to the contraction of the crypto market, and the economy more broadly,” the company said in a statement.

“Ours is a story you hear too often. We grew too quickly to capitalize on a bull market in crypto. Now, we must shift our strategy and recalibrate our teams to align with the reality of the current market.”

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Media Business

Benztown to Host Programming Webinar Featuring Dr. Ed Cohen and Mike McVay

“In today’s radio environment where every quarter-hour matters, there are quarter-hours hidden everywhere.”

Barrett News Media

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A photo promoting a Benztown webinar featuring Mike McVay and Dr. Ed Cohen

Benztown is announcing plans for a webinar featuring Dr. Ed Cohen and Mike McVay centered around utilizing data to increase listening credits in the Nielsen radio ratings.

Unlocking Radio Secrets: Every Minute Matters; Improving Your Ratings will be held on Thursday, June 27th at 1 PM ET. In the webinar, Benztown will showcase its SpotGPS tool for radio programmers.

The software “is a powerful tool … that transforms airplay data into powerful and actionable commercial content analysis in a compelling, visual, and intuitive form that is a game-changer for radio stations,” according to the company, who designed it specifically for PPM markets.

“In today’s radio environment where every quarter-hour matters, there are quarter-hours hidden everywhere. Some radio stations know where they are and how to take advantage of them. Knowing where they are illuminates an otherwise dark room,” the company said of the webinar. “Some radio stations accept the darkness and blame ratings methodology. The smart ones live in the light.”

The upcoming webinar is free to those wishing to attend. To register, click here.

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Media Business

Remote News Service Adds 3 New Markets

“I’m so pleased that all of our team’s hard work is paying off.”

Barrett News Media

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Remote News Service has added three new markets to its growing list of affiliates.

The news network will now provide services to WXJB-FM near Tampa, WIRY-FM in Plattsburgh, New York, and to Oklahoma City stations owned by Champling Broadcasting — which includes Freedom 96.9.

“I’m so pleased that all of our team’s hard work is paying off. Happy clients, make us super happy, and really proud,” Remote News Service owner Lesley Lotto said.

“The addition of Remote News Service has been a big boost to our local news,” stated WXJB GM Barbara Manuel. “It has dramatically raised the profile of our talk station. We are already out selling it!” 

“I would highly recommend Remote News Service if you are considering an outside source to cover your local news. Our anchor has been very responsive and professional,” added WIRY co-owner Joey Trombly. “We transitioned to this service and it was seamless. We are getting positive feedback in our marketplace since we made this change”.

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Media Business

Libsyn Completes Integration With YouTube API Features for Podcast Publishers

“By integrating YouTube directly into our platform, we’re empowering creators to expand their reach and engage with a broader audience while simplifying their workflow.”

Barrett News Media

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A photo of the YouTube and Libsyn logos

Libsyn has announced it has successfully integrated with YouTube and its new Podcast API features, making publishing to YouTube Music an easier process for its customers.

“Our mission at Libsyn is to be the premier destination for anyone at any stage of their podcasting journey to distribute their podcast, grow their audience, and monetize their content,” said CEO John Gibbons. “We’ve evolved from a singular hosting provider to a suite of services for creators and advertisers through our investments in platform innovations and expanded partnerships.

“By integrating YouTube directly into our platform, we’re empowering creators to expand their reach and engage with a broader audience while simplifying their workflow.”

Podcast publishers with Libsyn can now directly upload their episodes to YouTube Music. The new integration can also convert audio files to MP4 video files.

Streamlining the process to upload to YouTube Music as two studies in 2023 showed YouTube is the most used podcast platform in the United States.

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