Flash became the new Venom when he was enlisted as a part of Project Rebirth 2.0. Flash was bonded with the symbiote, recently acquired by the U.S. government after Mac Gargan's arrest after the Siege of Asgard. While bonded, Flash was able to reproduce his legs and had powers comparable to Spider-Man.
Thompson was sent to the Eastern European country Nrosvekistan to recover Dr. Ekmecic, a specialist in developing weapons made from Antarctic Vibranium. During his mission, he encountered the new Jack O'Lantern, who was also trying to recover Dr. Ekmecic for his boss, the new Crime-Master. Neither was able to take Ekmecic alive but the encounter made Venom and Jack O'Lantern long-time enemies.
He was later sent to the Savage Land to destroy Crime-Master's Antarctic Vibranium shipment. After a confrontation with Kraven the Hunter, Flash was separated from the symbiote, which lead Crime-Master to learn Venom's identity. However, the symbiote returned to Flash much to his surprise, assuring him that it won't abandon him and reminding him that they still have a mission to complete. Eventually, Venom took control of the helicopter containing the vibranium shipment, but he was forced to deliver it to Crime-Master when he used his knowledge of Venom's identity to hold Betty Brant, his long-time girlfriend, hostage. In return, Crime-Master told Venom where Betty was being kept, but Spider-Man, who was also trying to save Betty, mistook him for the enemy and the old foes fought. After their brief battle, they continued their search for Betty together, but as soon as Venom arrived at the warehouse where Betty was being kept, it blew up. Spidey left the destruction with Betty. Returning to Project Rebirth headquarters, he lied to his superior about Crime-Master discovering his identity to a moment when he lost control of the symbiote so that they wouldn't take it away from him.
Back home, Flash learned that his father had cirrhosis of the liver and did not have much time to live.