Digital-Media Start-Up Semafor Has Raised $19 Million, Replacing Money From Disgraced Mogul

From a New York Times story by Benjamin Mullin headlined “Semafor Raises $19 Million, Replacing Money From Sam Bankman-Fried”:

Semafor, the digital-media start-up, has raised $19 million from investors including the Yahoo co-founder Jerry Yang, replacing the money it had received from the disgraced cryptocurrency mogul Sam Bankman-Fried.

The money from Mr. Bankman-Fried, roughly $10 million, will be placed in an account separate from Semafor’s other funding and returned to his creditors at the direction of the authorities, said Justin Smith, Semafor’s chief executive and one of its founders.