The Block named former Fox Corporation and Azuki executive Steve Chung as chief executive on Monday, putting a veteran media operator atop the crypto research firm.
Chung Replaces Cermak
Chung succeeds Larry Cermak, who founded the role and will stay on as president overseeing research, data, and product. The appointment was announced from New York.
The Block said the move comes as digital asset markets pull closer to traditional finance and as artificial intelligence reshapes how research is produced. The company aims to serve institutional investors, traders, and policymakers tracking that shift.
Chung began his career at Goldman Sachs. He later served as inaugural chief growth officer at Fox Corporation, chief digital officer at Fox TV Stations, and chief executive of CJ ENM America. Most recently, he was chief operating officer at NFT firm Azuki.
Foresight Ventures, which acquired The Block in 2023, has committed an additional $10 million in growth capital to fund the next phase.
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Foresight Backs Scale
Chung said the next generation of information firms will be defined by trust, proprietary data, and direct ties to institutional readers. He said The Block has built that base and will now scale it globally while applying AI to deepen its insights.
Cermak called Chung the right operator to take the firm from category leader to global market leader. Foresight Ventures partner Zac Tsui said an extensive global search led to Chung, citing his cross-market track record.
The Block was acquired by Foresight Ventures in 2023 after a turbulent period for its previous ownership. The firm has since rebuilt its balance sheet and broadened its institutional footprint, with the new capital injection marking Foresight's deepest commitment yet.
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