Foresight Ventures’ $55M Investment In The Block Seeks To Shape The Future Of Crypto Media: Forest Bai
The $55 million investment in crypto media platform The Block seeks to shape the future of the cryptocurrency industry, according to Forest Bai, co-founder of Foresight Ventures.
In an interview with Benzinga, Bai recounted how the deal discussions started with a need for a baby gift for The Block’s CEO, Larry Cermak, noting the unconventional beginning to what became a significant business transaction.
The investment into The Block was aimed towards a better and more independent media within crypto.
However, recent turmoil at a prominent crypto media outlet raises questions about the ability of media companies to maintain editorial independence amidst financial and competitive pressures.
The changes at CoinDesk came to light after three top editors were abruptly dismissed, including the editor-in-chief, following a controversy where Bullish leadership allegedly forced editors to remove a critical article about a crypto billionaire, according to a report by Fortune.
This move sparked immediate backlash and led to the resignation of Matt Murray, a former Wall Street Journal …
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