The Block has appointed Steve Chung as its new Chief Executive Officer, replacing Larry Cermak, who remains president with responsibility for research, data, and product operations.
The leadership shift comes as the firm accelerates its expansion across digital assets, traditional finance, and artificial intelligence, backed by fresh growth capital from its parent company, Foresight Ventures.
Leadership change at The Block
The Block has appointed Steve Chung as its new Chief Executive Officer, replacing Larry Cermak, who remains president with responsibility for research, data, and product operations.
The leadership shift comes as the firm accelerates its expansion across digital assets, traditional finance, and artificial intelligence, backed by fresh growth capital from its parent company, Foresight Ventures.
New CEO with media and finance background
Chung joins from Azuki, where he served as Chief Operating Officer. His earlier career includes a start at Goldman Sachs and senior roles such as:
- Chief growth officer at Fox Corporation
- Chief digital officer at Fox TV Stations
- CEO of CJ ENM America
Foresight Ventures said it conducted a global search before finalizing Chung’s appointment, citing his mix of experience in global media, capital markets, and crypto as key to scaling the business for institutional clients.
Foresight Ventures injects $10 million for expansion
Following Foresight Ventures’ acquisition of The Block in 2023, the company has increased its institutional presence and strengthened its balance sheet.
Foresight has now committed an additional $10 million in growth capital to support The Block’s new phase under Chung, funding:
- Expansion of institutional research coverage
- Development of enterprise-focused products
- New data solutions for global market participants
Cermak said Chung’s arrival aligns with plans to scale the firm’s institutional services and deepen the integration of crypto market intelligence with developments in AI and traditional finance.
Strategic focus: data, AI, and institutional clients
Under Chung’s leadership, The Block aims to:
- Broaden its institutional research footprint across digital assets and traditional markets
- Integrate artificial intelligence to refine data and research offerings
- Build tools for professional market participants, including financial firms and policy stakeholders
The move reflects a wider corporate trend in which data and media platforms are embedding AI into core workflows, similar to how firms such as Jack Dorsey’s Block are restructuring operations around internal AI systems to drive efficiency.
The Block’s role in digital asset information
The Block operates as a research and media provider focused on digital asset sectors. Its products combine:
- Market analysis
- Data reporting
- Educational content
The audience spans financial professionals, technology builders, and policy stakeholders across several regions, as the company seeks to position itself at the junction of crypto, AI, and traditional finance.
Foresight Ventures’ growing crypto footprint
Foresight Ventures, headquartered in the United States and Singapore, ranks among the five most active crypto-focused venture firms in 2024. Its network includes:
- Foresight News
- BlockTempo
- Coinness
The firm continues to invest in emerging digital finance ventures worldwide, using The Block as a core information and research platform within its broader ecosystem.
Market backdrop: maturing Bitcoin, strong institutional demand
The leadership change at The Block comes against a backdrop of a maturing crypto market:
- Bitcoin has been consolidating in the $77,000 to $80,000 range after its best April performance since 2020.
- Spot Bitcoin exchange-traded funds have seen more than $335 million in weekly inflows, signaling ongoing demand from large market participants.
On-chain data shows corporate treasuries recently acquiring Bitcoin at up to 2.8 times the rate of new supply, underscoring a sustained appetite from larger players even as short-term sentiment fluctuates.
Sentiment mixed as retail activity slows
Indicators point to a period of indecision in the broader crypto market:
- The Crypto Fear and Greed Index recently rose to a neutral 47, up from 12 (extreme fear) a month earlier.
- Global retail crypto activity declined 11% year-on-year in the first quarter of 2026, to $979 billion.
Despite this slowdown in smaller accounts, large-scale market participants are signaling continued engagement. A recent survey shows 73% of major institutions plan to increase their digital asset exposure during 2026.
Regulatory uncertainty in the United States
In the United States, legislative uncertainty continues to hang over the market:
- Comprehensive crypto-asset legislation, the CLARITY Act, remains stalled in the Senate Banking Committee.
- Observers view May as a key deadline for the bill to advance before midterm election campaigning dominates the legislative calendar.
This uncertainty forms part of the environment in which The Block aims to expand its regulatory and policy coverage for professional audiences.
Ethereum prepares for major upgrade
Ethereum is trading above $2,300 ahead of its planned “Glamsterdam” network upgrade in June 2026. The upgrade is expected to:
- Cut transaction fees by up to 78%
- Potentially improve network usage and on-chain activity
Market participants are watching $2,500 as a critical technical level for Ethereum in the near term.
Key technical levels and stablecoin flows to watch
Near-term market direction may hinge on several factors:
- Whether Bitcoin can break and hold above the $75,000 resistance zone decisively
- Almost $6 billion in net stablecoin inflows to Binance in March and April, representing capital sitting on the sidelines, yet to be deployed into specific assets
These dynamics will shape the operating landscape for The Block as Chung takes over, with the firm positioning itself to service a more sophisticated institutional audience at the intersection of AI, digital assets, and traditional capital markets.
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