The Block Shakes Off SBF Ties with Foresight Ventures Deal
The Block, a prominent crypto news and research company, has recently undergone a significant change in ownership. The company has sold a majority stake to Foresight Ventures, a venture capital firm based in Singapore, for a deal valued at $70 million. This move allows The Block to shift its focus towards providing top-notch journalism and research for the crypto community.
Foresight Ventures’ Decision to Invest in the Block
Foresight Ventures is well-known for its investments in the Asian crypto market and its successful track record in helping companies thrive. By acquiring an 80% stake in The Block for $60 million, Foresight Ventures has demonstrated its confidence in the company’s future and its belief in the importance of high-quality journalism and research within the crypto space.
Larry Cermak Stance on the Investment
The CEO of The Block, Larry Cermak, has expressed his excitement about the deal with Foresight Ventures, referring to it as a “fresh start” for the company. He is committed to collaborating with Foresight Ventures to shape the future of crypto journalism and is dedicated to expanding the company’s team through new talent acquisition and investment.
Hot Take: The Block to Distance Itself from the FTX Scandal
The deal between The Block and Foresight Ventures signifies a positive step forward for the entire crypto industry. It reflects growing institutional confidence in the future of crypto and a willingness to invest in high-quality journalism and research within the space.
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