Share this article
BTC
$82,128.55
+
1.58%ETH
$1,557.58
-
0.69%USDT
$0.9994
+
0.01%XRP
$2.0064
+
0.55%BNB
$581.88
+
1.26%SOL
$119.25
+
5.66%USDC
$1.0000
+
0.01%DOGE
$0.1580
+
2.12%TRX
$0.2374
-
0.83%ADA
$0.6220
+
1.65%LEO
$9.4110
-
0.34%LINK
$12.54
+
2.42%AVAX
$19.39
+
7.32%TON
$2.9363
-
0.67%HBAR
$0.1717
+
0.05%XLM
$0.2339
+
0.30%SUI
$2.1848
+
1.58%SHIB
$0.0₄1201
+
1.27%OM
$6.3982
-
0.41%BCH
$302.02
+
3.46%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Crypto News Site The Block Bought by Foresight Ventures in $70M Deal
The crypto data and news site plans to expand in Asia and the Middle East.
Crypto news and data provider The Block said Singapore-based Foresight Ventures had completed an acquisition of the majority of its shares.
The purchase was completed at a $70 million valuation, and the company plans to “build out new exciting products” and expand into Asia and the Middle East, CEO Larry Cermak said in an X post on Monday.
STORY CONTINUES BELOW
"Excited to see the company move forward on a stronger ground as we continue to expand our news, research and data offerings," Editor in Chief Tim Copeland told CoinDesk.
Most of the capital was used to buy out former CEO Mike McCaffrey's stake. McCaffrey resigned in December, 2022 after informing The Block's editorial team that the website had secretly been funded since 2020 by Sam Bankman-Fried’s Alameda Research. Bankman-Fried has since been found guilty of seven charges of fraud.
The Block laid off 27 staff, about a third of its workforce, in March in a leadership shake-up that saw Cermak, the website's head of research, become CEO.
UPDATE (Nov. 13, 13:35 UTC): Adds sentence on The Block's layoffs in March.
UPDATE (Nov. 13, 13:41 UTC): Adds comment from Tim Copeland.
UPDATE (Nov. 13, 15:51 UTC): Amends fourth paragraph to demonstrate a timeline of McCaffery's resignation; rewrites headline.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
