Connect with us
DAPA Banner

Crypto World

Azuki’s Steve Chung and a $10M institutional push

Published

on

AI giants Meta, Microsoft, NVIDIA see stocks amid Iran threat, AI cryptos crash

The Block taps ex‑Azuki COO Steve Chung as CEO and takes another $10M from Foresight Ventures, doubling down on an institutional data, research, and AI‑driven media pivot.

The Block’s decision to install former Azuki COO Steve Chung as CEO, backed by an extra $10 million from Foresight Ventures, is a clear signal: crypto media is going fully institutional, with AI and TradFi squarely in the frame. It is a sharp pivot from surviving crypto winters and ownership scandals to competing head‑on with Bloomberg‑style data and research platforms for hedge funds, banks, and asset managers.

Chung steps into the role after a career that runs directly through Wall Street, legacy media, and Web3 IP.

He started at Goldman Sachs in New York, moved on to become Chief Growth Officer at Fox Corporation and Chief Digital Officer at Fox Television Stations, served as CEO of CJ ENM America, and most recently ran operations at Azuki, a blue‑chip NFT brand built around anime‑style decentralized IP. That mix of capital markets, media distribution, and crypto culture is exactly what The Block’s owners appear to be buying.

Advertisement

Larry Cermak, who became CEO in 2023 after Foresight Ventures acquired roughly 80% of The Block in a $60 million deal, will slide into a President role focused on research, data, and product rather than day‑to‑day operations. “Steve is the right operator to take The Block from category leader to global market leader,” Cermak said in the official release, framing the move as a scale‑up moment rather than a handover forced by stress.

Foresight’s new $10 million injection, announced alongside the hire, is meant to fund exactly that scale‑up.

Since 2022, the Singapore‑based firm has been deploying successive $10 million accelerators and strategic investments across Web3 infrastructure, AI, and Bitcoin Ordinals, and media is part of the stack: The Block is supposed to be the distribution and data layer that institutional LPs and portfolio companies lean on for market intelligence. PR copy is explicit about where this goes: using the fresh capital to “scale institutional research and data offerings, expand its enterprise business, and deepen its role as a critical information and data provider within the global digital asset ecosystem.”

On X, sentiment over the past day has been cautious but curious rather than euphoric.

Foresight‑aligned news account @WuBlockchain summarized the move in Chinese, emphasizing that Chung “曾任Fox、CJ ENM America 等公司高管,并担任NFT 项目Azuki COO,” and highlighting that Cermak will stay on to lead research and product, which calmed some concerns about editorial continuity. Another industry account amplified the PR line that The Block will now sit “at the intersection of crypto, finance, and AI,” positioning Chung as the operator who understands all three cultures. Binance’s @BinanceSquare news feed echoed Foresight’s framing, calling the move a push to “accelerate institutional expansion” rather than a simple leadership reshuffle.

The deeper question is what kind of media product emerges when a crypto‑native newsroom becomes a line item on a venture portfolio whose strategy is explicitly geared toward institutional monetization.

Advertisement

Foresight already controls the cap table and is now writing another $10 million check; Chung’s mandate is to build a global enterprise business on top of that. That almost certainly means more paywalled research, richer datasets, and bespoke products for funds and corporates—and less emphasis on chasing retail clicks. From a market‑structure point of view, that’s rational: crypto is institutionalizing, the big fees sit with professional clients, and the most valuable content is data‑driven, time‑sensitive research, not explainers.

But it also raises familiar concerns about independence and conflict of interest.

The Block is still working through reputational scars from its earlier exposure to Alameda/FTX money, which led to a change of ownership and Cermak’s initial appointment as CEO. Now, with a single venture firm doubling down financially and strategically, critics on X are already asking whether coverage of Foresight portfolio companies and themes—like AI‑crypto convergence or specific accelerator projects—can stay arm’s‑length. The fact that Cermak remains in charge of research and product is widely seen as a partial safeguard, but institutional clients will likely demand stricter governance around disclosures and firewalls than retail readers ever did.

From Chung’s side, his track record suggests he will lean into IP, brand, and distribution as much as data.

Advertisement

At Fox and CJ ENM America, his remit was to build digital businesses and global reach across traditional and streaming channels. At Azuki, he worked at the frontier of NFT‑based media franchises and decentralized IP, where community and liquidity matter as much as content. Bringing that playbook to The Block means you can expect more cross‑format output—video, events, B2B education—designed around institutional buyers but powered by crypto‑native culture. It is the media equivalent of moving IP on‑chain: trying to wrap research, data, and brand into a single, leverageable asset.

In the short term, the move is a bet that there is room for at least one fully crypto‑native “Bloomberg for digital assets,” and that the window to build it is now, before banks and legacy data vendors completely capture the category.

If Chung executes, The Block could become the default terminal for funds trading liquid tokens, stablecoins, and eventually tokenized real‑world assets. If he does not, the platform risks being squeezed between free on‑chain data dashboards and heavyweight incumbents who are already feeding crypto price and derivatives data into existing terminals. Either way, the appointment and the $10 million check confirm what the market already knows: crypto media is no longer just about news; it is infrastructure.

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

A Zero-Day Hack Triggered a 13-Block Reorg on Litecoin: Are User Funds Actually Safe?

Published

on

A Zero-Day Hack Triggered a 13-Block Reorg on Litecoin: Are User Funds Actually Safe?

Litecoin (LTC) took a hit on April 25, and not a small one. What exactly triggered the chaos, and whether the hack damage is truly contained, deserves a closer look.

A zero-day vulnerability in Litecoin’s codebase was exploited on April 25, triggering a 13-block reorganization that temporarily halted transaction finality across major mining pools.

The attack vector: un-updated nodes incorrectly accepted invalid MWEB (MimbleWimble Extension Block) transactions, which a Denial-of-Service attack exploited to flood the network.

The Litecoin team confirmed the bug on their official X account and stated a patch has been fully deployed, with node operators urged to update immediately.

Advertisement

No user funds were lost, but the reorg reversed transactions across those 13 blocks, a depth that qualifies as a serious network event by any measure.

A 13-block reorg isn’t a rounding error. Broader crypto markets are already navigating fragile sentiment around Bitcoin stalling near key levels, and a security incident on a top-20 chain adds pressure that technical analysis alone can’t absorb.

Can Litecoin Price Recover to $94 After the Hack Incident?

Advertisement

LTC holding up after the incident is actually the story, not the dip. Price bounced despite negative headlines, which tells you sellers did not fully take control.

But it is not strong either, it is just stable. Volume is messy across exchanges, which points to fragmentation, not a clean trend.

Source: Tradingview

Right now, everything comes down to $60. That is the level that flips the structure if it breaks with volume.

If that happens, LTC can move back toward the top of its range and regain momentum.

More realistically, this just stays sideways between roughly $56 and $59 while the market moves on and the news fades.

Advertisement

The risk is if issues resurface or sentiment weakens, because $52 is the floor, and if that breaks, downside opens quickly.

So this is a neutral setup, holding steady for now, but still waiting for a real direction.

Here is Why LiquidChain Could Be Replacing OG Coins Like Litecoin

LiquidChain is positioning around that idea, aiming to connect Bitcoin, Ethereum, and Solana liquidity into one layer so developers and users are not tied to a single ecosystem.

Advertisement

The pitch is about reducing fragmentation and making execution smoother across chains.

The presale is still early, around $0.01453 with just over $700K raised, which means it is in the early accumulation phase rather than widely priced.

But that also comes with the trade-off. Early-stage projects carry real execution risk, and liquidity only comes after launch.

So the contrast is simple, LTC offers stability with limited upside, while something like LiquidChain offers higher potential, but with much higher uncertainty.

Visit LiquidChain Here.

Advertisement

The post A Zero-Day Hack Triggered a 13-Block Reorg on Litecoin: Are User Funds Actually Safe? appeared first on Cryptonews.

Source link

Advertisement
Continue Reading

Crypto World

Curve founder pitches market-based fix for $700K bad debt in contrast to Aave bailout

Published

on

Curve founder pitches market-based fix for $700K bad debt in contrast to Aave bailout


The plan allows trapped lenders to sell tokenized claims on deposits, offering buyers an option-like bet on CRV’s recovery.

Source link

Continue Reading

Crypto World

MiCA-licensed Banking Circle joins bank stablecoin settlement race in Europe

Published

on

MiCA-licensed Banking Circle joins bank stablecoin settlement race in Europe

MiCA-licensed Banking Circle joins bank stablecoin settlement race in Europe

Banking Circle’s stablecoin settlement launch follows its CASP approval, entering a crowded market with SocGen, Sygnum and a 12-bank euro stablecoin consortium.

Source link

Continue Reading

Crypto World

MicroStrategy Purchases 3,273 Bitcoin for ~$255 Million; Polymarket Odds Show 10% Chance of Sale This Year

Published

on

MicroStrategy Purchases 3,273 Bitcoin for ~$255 Million; Polymarket Odds Show 10% Chance of Sale This Year

MicroStrategy has acquired an additional 3,273 Bitcoin in a new purchase valued at approximately $255 million, while prediction market Polymarket sets 10% odds on the company selling any Bitcoin before year-end.

MicroStrategy purchased an additional 3,273 Bitcoin for approximately $255 million, according to a Polymarket announcement on April 27, 2026. The acquisition marks the latest expansion of MicroStrategy’s Bitcoin holdings, which have become a cornerstone of the company’s treasury strategy.

Polymarket, a cryptocurrency prediction market, has priced the odds of MicroStrategy selling any Bitcoin in 2026 at 10%, indicating strong market confidence in the company’s continued hodling stance. MicroStrategy has been one of the largest corporate Bitcoin accumulators since 2020, using the digital asset as a primary vehicle for treasury management.

Sources: Polymarket | Polymarket

Advertisement

This article was generated automatically by The Defiant’s AI news system from publicly available sources.

Source link

Continue Reading

Crypto World

Kbank Tests Ripple Wallet For Remittances In South Korea

Published

on

Kbank Tests Ripple Wallet For Remittances In South Korea

South Korean internet-only bank Kbank has signed a strategic partnership with blockchain payments company Ripple to test blockchain-based overseas remittances. 

According to local media outlets like News1, The Korea Herald and Maeil Business, Kbank CEO Choi Woo-hyung and Fiona Murray, Ripple’s Asia-Pacific managing director signed the agreement at Kbank’s Seoul headquarters. The bank said the partnership will use Ripple’s global network and blockchain infrastructure to test whether overseas remittances can be made faster, cheaper and more transparent.

The companies are already conducting a phased technical verification. The first phase reportedly tested a separate app-based remittance structure, while the second phase is digitally linking customer accounts and internal systems to test remittance stability. It includes onchain transfers to countries such as the United Arab Emirates and Thailand, according to local reports. 

The tie-up comes as South Korean financial companies test blockchain-based cross-border payment infrastructure while the country’s stablecoin and digital asset rules remain under discussion.

Advertisement

South Korea companies prepare for stablecoin rules

South Korea is weighing how to regulate stablecoins under broader digital asset legislation. On April 8, South Korea’s ruling Democratic Party prepared a draft bill that would classify stablecoins as foreign exchange payment instruments and require tokenized real-world assets to be backed by assets held in trust. 

Citing an integrated draft of the proposed Digital Asset Basic Act, the Seoul Economic Daily previously reported that stablecoins used in cross-border transactions would be treated as a “means of payment” under the country’s Foreign Exchange Transactions Act. 

Related: South Korea tightens crypto withdrawal-delay exemptions after scam losses

The policy backdrop may explain why stablecoin and blockchain-payment tie-ups are accelerating before the rules are final. Banks, card companies and payment firms appear to be testing infrastructure, partners and use cases while avoiding full commercial launches ahead of legislation. 

Advertisement

On March 16, Hana Financial Group, one of South Korea’s largest financial conglomerates, signed a business agreement with the United Kingdom’s Standard Chartered Group for cooperation on various sectors, including foreign exchange and digital assets

The South Korean conglomerate also previously partnered with USDC-issuer Circle and major US crypto exchange Crypto.com to promote stablecoin-based payments for foreign visitors in the country, according to The Korea Times. 

On March 5, Asia Business Daily reported that South Korean payments company Danal will officially launch a digital asset payments service for foreign visitors in Korea in partnership with Binance Pay. 

Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

Advertisement
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Source link

Continue Reading

Crypto World

MiCA has made euro stablecoins safe but weak, new report argues

Published

on

MiCA has made euro stablecoins safe but weak, new report argues

MiCA has made euro stablecoins safe but weak, new report argues

A new Blockchain for Europe report says MiCA has made euro stablecoins safer but less competitive, and urges targeted reforms to reserves and remuneration.

Source link

Continue Reading

Crypto World

Cross-border B2B stablecoin payments to hit $5 trillion by 2035, says Juniper Research

Published

on

Stablecoins account for most illicit crypto activity, FATF says

International stablecoin payments among businesses will total $5 trillion by 2035, fintech analysts Juniper Research said in a new report.

That figure would be 373 times greater than the estimated total value of $13.4 this year.

“Stablecoins are increasingly embedded in cross-border business-to-business (B2B) transactions, treasury operations, and supply chain settlements, where their programmability and 24/7 settlement finality offers advantages over correspondent banking rails,” the research firm said, adding they are “causing disruption to correspondent banking channels.”

Juniper said the growth is driven by stablecoins increasingly addressing the current inefficiencies within cross-border payments that traditional finance handles.

Advertisement

The firm estimates that 85% of the total stablecoin transaction value in 2035 will come from B2B, with the fiat-pegged cryptocurrencies shifting from a speculative asset to a foundational layer of institutional payment infrastructure.

Stablecoins are increasingly integrated in international payments among businesses, treasury operations, and supply chain settlements, because their speedy 24/7 settlement finality offers advantages over correspondent banking rails, the firm said.

“Stablecoins are not replacing payments infrastructure; they are being adopted where the advantages are most pronounced,” said Juniper Research Analyst Jawad Jahan. “Cross-border B2B is where those advantages are greatest, and where we expect the most sustained volume growth over the forecast period.”

He suggested stablecoin issuers should focus on enterprise integrations and treasury partnerships to capture the majority of this value.

Advertisement

Earlier this month, Chainalysis said stablecoins were on track to become a foundational layer of global finance, with adjusted transaction volumes projected to reach $719 trillion by 2035. The blockchain intelligence firm also said that when crypto becomes the default for the next generation, “the question is no longer if stablecoins compete with traditional rails, but how quickly they replace them.”

Source link

Continue Reading

Crypto World

Ethereum’s EEZ could pull other blockchains into its orbit

Published

on

Ethereum’s EEZ could pull other blockchains into its orbit

Ethereum’s EEZ could pull other blockchains into its orbit

The Ethereum Economic Zone aims to unify fragmented rollups, but its broader goal is to extend interoperability to other blockchains, says Ernst.

Source link

Continue Reading

Crypto World

Pi Network price eyes $0.20 breakout amid Protocol 22 upgrade

Published

on

Pi Network price and CMF chart.

Pi Network price rallied over 6% in the past week as anticipation for its upcoming mainnet upgrades spurred demand for the token.

Summary

  • Pi Network price rose over 6% this week to $0.186 as demand increased ahead of its Protocol 22 mainnet upgrade.
  • Upgrade roadmap and upcoming Consensus 2026 appearance by co-founders boosted sentiment around scalability, security, and ecosystem expansion.
  • Technical indicators show strengthening momentum, with potential upside toward $0.20, while loss of $0.170 support could trigger a pullback toward $0.155.

According to data from crypto.news, Pi Network (PI) price rallied from a weekly low of $0.166 to $0.186 on Friday, bringing the token’s total market cap to over $1.89 billion.

Pi Network price rose as investor demand for the token rose ahead of its mainnet upgrade to version 22 or Protocol 22, which will reportedly streamline transaction processing and enhance the network scalability for decentralized applications. This technical leap is a major step toward the Open Mainnet phase that the community has long awaited.

Advertisement

The upgrade also prepares the network for Protocol 23, which is expected in May and would mark the completion of critical security audits and enable cross-chain interoperability for the first time. This transition is seen as the final bridge before the ecosystem opens up to the broader crypto market.

The token’s price has also gained traction as the team prepares for a high-profile appearance at Consensus 2026 in Miami. As per reports, the project’s two co-founders, Nicolas Kokkalis and Chengdiao Fan, will speak at the event with a core focus on Pi’s blockchain infrastructure, digital identity, artificial intelligence, and future application development.

Pi Network price analysis

On the daily chart, Pi Network price has broken above the 3/8 Murrey Math line and therefore signals that the bulls have regained control of the immediate trend.

Advertisement
Pi Network price and CMF chart.
Pi Network price and CMF chart — April 27 | Source: crypto.news

The Chaikin Money Flow index, which indicates whether capital is flowing into or out of the asset, has also turned positive, confirming that buyers are accumulating at current levels.

Hence, Pi Network price is positioned to rise toward $0.195 next and potentially push past the major psychological resistance at $0.20 if the positive news cycle continues through the week. 

However, if the token loses the $0.170 support, then the bullish momentum would likely fade, leading to a period of consolidation or a retracement toward $0.155.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Advertisement

Source link

Advertisement
Continue Reading

Crypto World

Michael Saylor’s Strategy adds 3.2K Bitcoin at nearly $78K per BTC

Published

on

Michael Saylor’s Strategy adds 3.2K Bitcoin at nearly $78K per BTC

Michael Saylor’s Strategy adds 3.2K Bitcoin at nearly $78K per BTC

Michael Saylor’s Strategy bought 3,273 Bitcoin for $255 million between April 20 and 26, bringing total holdings to 818,334 BTC.

Source link

Continue Reading

Trending

Copyright © 2025