The Block has named Steve Chung as its new CEO, succeeding Larry Cermak, who will stay on as President overseeing research and product. Chung's background spans senior roles at Goldman Sachs, Fox, and the Azuki NFT project — a mix of TradFi, mainstream media, and crypto-native experience.
Foresight Ventures is funding the transition with a $10 million investment earmarked for expanding The Block's institutional research, data offerings, and global footprint.
Why it matters
The Block spent the last several years building out a paid research product targeting the same institutional desks that consume Bloomberg, MSCI, and Coin Metrics. Putting a Goldman and Fox alum in the chair is a signal that the next phase is sales-led distribution into that buyer base rather than reader-supported media growth. Foresight's capital, meanwhile, is one of the more active Asia-based vehicles writing checks into crypto media and infrastructure, so the backer mix fits the international expansion framing.
Market impact
The hire does not directly move token prices, but it does reshape the competitive landscape for institutional crypto research subscriptions — a segment where The Block, Messari, Galaxy, and a handful of banks' in-house desks are the only scaled players. Watch for product announcements over the next two quarters: paid data feeds, terminal-style dashboards, and enterprise API licensing are the most likely monetization paths if the new CEO is executing on the playbook his CV suggests.
Frequently asked questions
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Who is The Block's new CEO?
Steve Chung, a media and tech executive whose background includes senior roles at Goldman Sachs, Fox, and the Azuki NFT project. He succeeds Larry Cermak.
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What is Larry Cermak's new role?
Cermak remains at The Block as President, with oversight of the company's research and product lines.
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How much did Foresight Ventures invest in The Block?
Foresight Ventures committed an additional $10 million alongside the CEO transition, earmarked for institutional research, data offerings, and global expansion.
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Why does the hire matter for crypto media?
Chung's TradFi and mainstream media background points to a sales-led push into institutional research buyers — the same desks that consume Bloomberg, MSCI, and Coin Metrics — rather than audience growth.
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What products could The Block launch next?
Paid data feeds, terminal-style dashboards, and enterprise API licensing are the most likely monetization paths if the new CEO executes on the playbook his background suggests.
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