A cryptocurrency media platform. Bullish Crypto Exchange acquires CoinDesk
According to a story published in The Wall Street Journal (WSJ) on November 20, crypto media portal CoinDesk has been bought by crypto exchange Bullish for an unknown price.
Former New York Stock Exchange president Tom Farley leads the crypto exchange. Former Wall Street Journal editor-in-chief Matt
Murray will chair an independent editorial committee, and the present CoinDesk editorial staff will stay intact, according to the media platform.
Bullish purchased the crypto media platform in an all-cash sale, according to the report, however the specifics of the transaction were not disclosed. The media platform, which was bought by Barry Silbert’s Digital Currency Group for $500,000 in 2016, was in
takeover negotiations during DCG’s financial crisis following a harsh crypto winter that saw many high-profile crypto startups fail. CoinDesk apparently earns $50 million in annual income.
Bullish was not the only firm interested in the media company. In July, a group of investors led by Matthew Roszak attempted to purchase CoinDesk for $125 million, but the deal didn’t materialize. Bullish Crypto Exchange acquires CoinDesk
CoinDesk is not the only crypto media company to have struggled during the bear market. The Block also had to cut ties with its original founders after links with FTX surfaced shortly after the exchange collapsed. The crypto news platform sold a majority of its stake to Singapore-based venture capital firm Foresight Ventures at a $70 million valuation, which bought an 80% stake for $60 million.
Bullish purchased the crypto media platform in an all-cash sale, according to the report, however the specifics of the transaction were not disclosed. The media platform, which was bought by Barry Silbert’s Digital Currency Group for $500,000 in 2016, was in takeover negotiations during DCG’s financial crisis following a harsh crypto winter that saw many high-profile crypto startups fail. CoinDesk apparently earns $50 million in annual income.
Former New York Stock Exchange president Tom Farley leads the crypto exchange. Former Wall Street Journal editor-in-chief Matt Murray will chair an independent editorial committee, and the present CoinDesk editorial staff will stay intact, according to the media platform.