Latest news with #ForesightVentures
Cision Canada
18-06-2025
- Business
- Cision Canada
The Block Announces Strategic Leadership Evolution as Leading Digital Asset News Platform Enters Next Growth Phase
transitions to President role to focus on research and product innovation; Kaleb Jessee promoted to CEO NEW YORK, June 18, 2025 /CNW/ -- The Block, a leading provider of news, research, and data on digital assets, today announced a strategic leadership transition that reflects the company's evolution and positions it for accelerated growth. Larry Cermak, who has served as CEO since March 2023 and has been with The Block for nearly seven years, will transition to the role of President. In this new capacity, he will focus full-time on advancing research and data capabilities as well as product innovation — areas where his expertise has been instrumental in establishing The Block's reputation as the industry's most trusted source of information. Kaleb Jessee, who has played a key leadership role as Chief Revenue Officer—driving B2B and B2C revenue growth across the Campus learning platform as well as sponsorship and research sales—will succeed Cermak as Chief Executive Officer. The leadership evolution also includes key editorial changes designed to strengthen The Block's content operations. Tim Copeland, previously Editor-in-Chief, has transitioned to Head of Growth, where he will spearhead initiatives to expand The Block's global reach and market impact. Adam James has been appointed Editor-in-Chief, ensuring continuity in The Block's commitment to editorial excellence and journalistic integrity. Cermak assumed the CEO role during one of the most challenging periods in The Block's history, when the company faced significant financial and operational difficulties. Under his leadership, The Block underwent a comprehensive business transformation that not only stabilized operations but positioned the company for sustainable long-term growth. "I stepped into the CEO role when it was necessary for the company's survival," said Cermak. "What I've truly missed is being close to research, data, and product development — where I can make the biggest impact. This transition allows me to focus on my core strengths and where I can drive the most value for our audience and the broader digital asset community." During his tenure as CEO, Cermak successfully guided the company through a comprehensive transformation, including leading The Block's sale to Foresight Ventures, launching new products like the Campus education platform, and establishing strategic partnerships such as a joint venture with Wintermute that created crypto index provider GMCI. Jessee brings extensive operational expertise and a proven track record of revenue growth to his new role as CEO. His deep understanding of The Block's business model and strategic vision positions him to lead the company's next phase of expansion. "The Block is entering an exciting new chapter, but our fundamental mission remains unchanged," said Jessee. "We remain unwavering in our commitment to delivering world-class journalism, unrivaled research, and innovative learning experiences. I'm honored to lead this incredible team as we continue to set the standard for digital asset information and analysis." Jessee's promotion reflects The Block's commitment to operational excellence and strategic growth. His background in managing complex revenue streams and building scalable business platforms aligns with the company's objectives to expand its global footprint. "This transition reflects our maturation as an organization and our confidence in the long-term growth trajectory of crypto in the U.S.," added Cermak. "By having someone who thrives on operational leadership in the CEO role, we're optimizing our leadership structure for maximum impact." The Block is the leading source of crypto-native news, research and data. Its beating heart is an editorial team that produces reliable and accurate reporting, bolstered by an expert-led team of researchers. The Block serves institutional investors, industry professionals and retail participants. Through its newly launched platform Campus, it helps crypto companies hire top talent and upskill their teams.
Business Insider
12-06-2025
- Business
- Business Insider
New Report by Foresight Ventures Decodes Hyperliquid's Playbook and Dives Into Next Wave of On-chain Infrastructure
Singapore, Singapore, June 12th, 2025, Chainwire Foresight Ventures releases its latest report, 'Decoding the Hyperliquid Playbook and the Next Wave of On-chain Infrastructure,' offering an exclusive, in-depth analysis of how Hyperliquid has redefined on-chain trading and catalyzed a new era for decentralized finance. Key Insights from the Foresight Ventures Report Hyperliquid's Record-Breaking Growth: Hyperliquid has rapidly emerged as a leading on-chain liquidity hub, with total open interest exceeding $10.1 billion and over $3.5 billion in USDC locked. High-profile traders, including James Wynn, have leveraged positions worth hundreds of millions, driving both market sentiment and liquidity. Innovative Technology and Product Design: Hyperliquid delivers a KYC-free, CEX-like trading experience—combining speed, intuitive UX, and deep liquidity without identity barriers. Ultra-low fees (maker 0.01%, taker 0.035%) and leverage up to 50x set new industry standards. Community-driven HLP vaults offer 14–24% APY, with all fees distributed to users. Breakthrough Marketing and Economic Model: The November 2024 airdrop—one of the largest in crypto history—distributed $1.2 billion in HYPE tokens, igniting user growth and engagement. Transparent whale activity and position data fuel a unique 'position → sentiment → price' feedback loop, amplifying both trading activity and platform loyalty. Deflationary Tokenomics and Closed-Loop Revenue: Hyperliquid's revenue is returned to users through buybacks and burns, creating sustained value for HYPE holders. This model, unmatched in scale, underpins the platform's long-term growth and decentralization. The Rise of HyperEVM: HyperEVM, Hyperliquid's EVM-compatible Layer 2, anchors a rapidly expanding ecosystem with $1.8 billion TVL. Notable projects include: HyperLend: The leading lending protocol ($370M TVL) with flexible pools and deep Hyperliquid integration. Hypurr Fun: A memecoin launchpad with Telegram bot support and revenue-sharing. HyperSwap: A low-slippage AMM enabling permissionless launches and dual-token incentives. Risks and Forward Outlook While Hyperliquid's rapid ascent and innovative approach have set new industry benchmarks, the Foresight Ventures report underscores two critical risks on the horizon. First, the platform's KYC-free model, while fostering privacy and accessibility, may invite heightened regulatory scrutiny as global compliance standards tighten. Second, Hyperliquid's closed-loop revenue and incentive structure, which thrives on high trading activity, faces a true test of resilience in prolonged bear markets where volumes and user engagement typically contract. Despite these challenges, Hyperliquid's robust technology, deep liquidity, and vibrant community position it as a frontrunner to not only weather potential headwinds but also shape the next evolution of decentralized finance. As the ecosystem continues to expand through HyperEVM and attract innovative projects, Hyperliquid stands poised to drive the next wave of onchain infrastructure, setting the pace for the industry's future. About Foresight Ventures Foresight Ventures is the first and only crypto VC bridging East and West and a Top 5 active crypto VC in 2024. With a research-driven approach and offices in the US and Singapore, they are a powerhouse in crypto investment and incubation. The company's 150+ premier media and startup companies portfolio includes Wallet Connect, Story, TON, Morph, 0G Labs, Sentient AI, The Block, Foresight News, BlockTempo, Coinness and many more. They aggressively invest in the most daring innovations. Foresight Ventures is dedicated to partnering with visionary projects and top teams to help them succeed, reshaping the future of digital finance and beyond. PR team
WIRED
20-03-2025
- WIRED
A Livestreamed Tragedy on X Sparks a Memecoin Frenzy
Mar 20, 2025 10:35 AM When a young man from California broadcast his death on X, profit-hungry traders piled into a cryptocurrency created in his image. PHOTO-ILLUSTRATION: WIRED STAFF; GETTY IMAGES This story contains mentions of suicide. If you or someone you know needs help, please call 1-800-273-8255 for free, 24-hour support from the National Suicide Prevention Lifeline . Twenty-three-year-old Arnold Robert Haro addressed his final words to the phone in his hand. 'If I die, I hope you guys turn this into a memecoin,' he said. Then Haro took his own life. Haro died on February 21 at his family home in Madera County, California, a death certificate obtained by WIRED shows. His suicide was broadcast live to his followers on X, where he went by the handle @MistaFuccYou. Footage of Haro's death has since been removed from the platform, but the incident was briefly listed in its trending tab. In the hours after Haro's death, people created dozens of memecoins—a type of highly volatile crypto coin used as a vector for financial speculation—modeled after him. Sensing an opportunity to profit, traders piled into one of the coins in particular, driving its value to $2.1 million in aggregate. (The coin has since lost 96 percent of its value.) On X, some tried to argue that whoever was behind the MistaFuccYou coin had duly granted Haro's final wish. But most denounced the impulse among traders to try to profit by his death. 'If you're trading this, you're sick af,' wrote one user. Speculation ran rampant on X that Haro had ended his life because he had lost money to a memecoin rugpull—a maneuver whereby somebody creates a new coin, promotes it online, then sells off their holdings in one swoop, devaluing everyone else's stake. WIRED was unable to confirm whether this had happened to Haro, but his friends have disputed the narrative. 'It had nothing to do with crypto … It's not what all these crypto nerds seem to think,' one of Haro's friends, who goes by j nova on social media, told WIRED. Haro's family, meanwhile, has described his death as the result of 'his battle with depression.' The incident captures in microcosm the race to the bottom in memecoin trading circles, where only the most heinous and morally bankrupt ideas are now rewarded with attention, says Azeem Khan, cofounder of the Morph blockchain and venture partner at crypto VC firm Foresight Ventures. 'We've reached the point where the most potentially exciting launch that people are looking at is Kanye trying to launch a Swastika coin,' says Khan, in reference to now-deleted X posts made by an account associated with the artist Kanye West. 'That's how terrible this space is.' Until last year, launching a memecoin was relatively expensive and technically burdensome, which meant few came to market. Only Dogecoin—the original memecoin—and a handful of derivatives had any sort of longevity. That equation was reversed with the arrival of a platform that makes it simple for anyone to launch a memecoin at no cost. Since launched in January 2024, many millions of memecoins have flooded the market, among them the coins modeled after Haro. In a statement provided to WIRED, spokesperson Troy Gravitt described Haro's death as a 'tragedy,' but explained that the coins made in his image, though 'clearly in poor taste,' do not violate the platform's terms of use. 'There was no content associated with the token that would have identified it as either illicit or explicit,' says Gravitt. Betting on memecoins is lionized in certain online crypto circles, where traders are euphemistically described as charging headlong into 'the trenches.' But behind the combat metaphor is an implicit recognition that the odds are stacked against the individual 'trencher,' particularly given the prevalence of rug pulls and alleged collusion between the insiders behind certain high-profile memecoin launches. 'Everyone assumes that crypto is where you come to become rich, no matter how dumb you are. I think it's the exact opposite,' says Khan. 'There are these layers of insiders … retail traders are always exit liquidity.' In other words, regular people buying into coins allows insiders to cash out at a profit. The new cultural prominence of highly volatile memecoins, which offer the prospect both of outsized gains and losses, is also likely to have compounded the risk for people predisposed to problem gambling or trading, researchers say. 'People have enormous capacity to make money very quickly. The appeal of making money rings so much louder than calls of danger,' says Benjamin Johnson, a PhD candidate at the University of Queensland specializing in the public health implications of digital technologies. 'Adding to the attraction with memecoins is that you've got these online communities where people really congregate. It becomes an emotional attachment to these assets … It creates a perfect storm.' Though academics have not identified a direct association between crypto trading and heightened psychological distress, the externalities of crypto trading—namely, the likelihood of losing money—are shown to have a negative impact on mental wellbeing. And the vast majority of memecoins released on wind up practically worthless. 'If you are really into day trading … it is definitely something that is likely to cause people mental stress or psychological distress,' says Atte Oksanen, a professor of psychology at Tampere University, who has conducted multiple studies on the mental health implications of crypto trading. 'Financial problems cause a lot of stress, which can escalate.' Meanwhile, the glut of memecoins entering the market through them coins issued by celebrities like rapper Iggy Azelea—has led coin creators to take increasingly elaborate, sexually degrading, and sometimes dangerous measures to attract attention to their coins. One guy ended up catching on fire after a memecoin promotional stunt went awry, leaving him with serious burns. The launch of US president Donald Trump's memecoin in January pushed the fight for attention to new extremes. The inevitable effect has been that only the most depraved and provocative concepts—like the MistaFuccYou coin, based on a suicide—so much as register in the hive mind of memecoin traders. And even then, only briefly. 'The president of one of the most powerful countries in the world launches a coin. How much further is there to go?' says Khan. 'Then if you hit the top of the market, how quickly will all of this vaporware actually end up nosediving?' The calculus among memecoin traders is captured on in the comment section for the MistaFuccYou coin. 'This token shows how fucked the trenches are rn, and is highly unethical,' wrote one user, before implying that others should invest. In the process, people like Haro—whose X feed is a kaleidoscope of memes, practical jokes, guns, women, weed, and crypto—are effectively erased; quite literally commodified into an incomplete and cartoonish version of themselves. A fundraising page set up by Haro's family to help cover the funeral costs paints a more three-dimensional picture: 'Arnold was a bright, kind, and hilarious soul who brought light to those around him,' reads a description written by a family member. 'He had a gift for making people laugh, spreading joy, and offering unwavering support, even when he was struggling himself.' If you or someone you know needs help, call 1-800-273-8255 for free, 24-hour support from the National Suicide Prevention Lifeline. You can also text HOME to 741-741 for the Crisis Text Line. Outside the US, visit the International Association for Suicide Prevention for crisis centers around the world.
