The Block appoints former Azuki COO as new CEO, and Foresight Ventures promises an additional $10 million investment

Comparatively, The Block announced the appointment of Steve Chung, a senior media and technology executive, as CEO to drive the company's institutional expansion. Meanwhile, Foresight Ventures promised an additional $10 million investment to support its next phase of development.

Former CEO Larry Cermak will continue as president, focusing on research and product business. Steve Chung began his career at Goldman Sachs, where he served as Fox's Chief Growth Officer, Fox Television's Chief Digital Officer, CJ ENM America CEO, and Azuki Chief Operating Officer. He said AI will be used to increase the depth, speed, and utility of insight to make The Block a global platform for digital asset investors and decision makers.

Zac Tsui, partner at Foresight Ventures, said Steve's background in capital markets, media, and crypto makes him an ideal leader to lead the company into a global institutional platform.