The Block has appointed Steve Chung as its new CEO to spearhead the expansion of its institutional business. Chung, who previously held executive roles at Fox and CJ ENM America and served as COO of the NFT project Azuki, will take over from Larry Cermak. Cermak will transition to the role of President, continuing to oversee research and product development. In conjunction with this leadership change, Foresight Ventures has committed an additional $10 million investment to support The Block's next phase of growth.