Foresight Ventures Acquires The Block in $70 Million Deal

Hi NoRamp Community,

Daily News:

Near Foundation Partners with Eigen Labs For ETH Rollup Transactions

Former Polygon Labs President Joins ETH Layer-2 Optimism

Foresight Ventures Acquires The Block in $70 Million Deal

Near Foundation & Eigen Labs Partner For ETH Rollup Transactions:

• Near Foundation has partnered with Eigen Labs to enhance the Near protocol and Eigen Layer, focusing on creating more efficient and affordable transactions for Ethereum rollups.

• The collaboration will facilitate quick, secure, and decentralized cross-rollup transactions, as well as improve the bridging experience between Near and Ethereum networks through an actively validated service (AVS).

• Eigen Layer's unique approach enables users to restake ETH and modify the consensus layer without needing a new blockchain, highlighting Near Foundation's commitment to making the Open Web more usable and interoperable.

Former Polygon Labs President Joins ETH Layer-2 Optimism:

• Ryan Wyatt has transitioned from Polygon Labs to become the Chief Growth Officer for Optimism Unlimited, where he will focus on driving adoption and development across various functions, including business development, marketing, and partnerships.

• Wyatt's move to Optimism is driven by his desire to contribute significantly during the network's formative phase, leveraging his expertise in scaling decentralized networks and community building.

• Optimism aims to solidify its position as a foundational layer for Ethereum scaling, with Wyatt focusing on areas like gaming and digital item ownership to expand network adoption and leverage community efforts for growth.

Foresight Ventures Acquires The Block in $70 Million Deal:

• The Block, a prominent crypto news site, has been acquired by Foresight Ventures for $70 million, giving the venture capital group an 80% stake in the company.

• The acquisition aims to bolster Foresight Ventures' presence in the Asian market, with CEO Forest Bai becoming chairman and partner Tony Cheng joining the board, while The Block CEO Larry Cermak will continue in his role.

• Despite the change in ownership, The Block will remain operationally independent, with Foresight Ventures committing to significant advertising expenditure and maintaining its focus on expanding into Asian and Middle Eastern markets.

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