Spletno mesto s kripto novicami The Block otresa vezi SBF s poslom Foresight Ventures

The Block, a crypto-focused media company, sold a majority stake of its company to a venture capital firm in Singapore, according to Poročila, which has valued it at $70 million.

Foresight Ventures, the firm behind the deal, is buying an 80% stake for $60 million. The VC firm says The Block will continue operations as an independent business.

The media company’s CEO Larry Cermak is the second largest shareholder in the company while Foresight CEO Forest Bai will become chairman, and partner Tony Cheng will take a board seat. Cermak posted that the company is getting a “fresh start.”

1/ Big news today as we announce Foresight Ventures acquired a majority stake in The Block. This tx gives The Block a fresh start ahead of the bull market and provides us with more capital to build out new exciting products and expand our footprint into Asia and the Middle East. https://t.co/1ohnptiKwQ

- Larry Čermak (@lawmaster) November 13, 2023

On the deal Cheng says that the focus will be to help companies bring in more users from Asia. 

»V tem delu sveta opažamo bistveno več regulativne jasnosti. Opažamo tudi, da v to regijo priteka bistveno več kapitala.«

This deal allows The Block to distance itself from the FTX scandal, after the media house’s ties to the defunct exchange came to light after its former CEO Mike McCaffrey, a majority stakeholder, had been discovered to have taken loans worth millions of dollars from Sam Bankman-Fried, the founder and former CEO of FTX. 

Cointelegraph se je obrnil na Foresight Ventures za nadaljnje komentarje o poslu. 

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The VC firm agreed to spend an undisclosed amount in ads with The Block during the first year. Most of the capital was reportedly used to purchase the stake previously held by McCaffrey and the rest went toward a change of control clause.

Foresight ima tudi deleže v več azijskih kriptomedijskih organizacijah, kot sta Block Temp in Foresight News, obe za mandarinsko govoreče občinstvo, in CoinNess, ki je objavljen v korejščini.

The company believes it can help The Block grow during a continuing bear market that has seen many companies in the crypto space lay off significant portions of their staff. In March The Block reportedly laid off nearly 33% of its staff.

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• vir: https://cointelegraph.com/news/crypto-news-site-the-block-shakes-off-sbf-ties-with-foresight-ventures-deal