Crypto exchange Bullish buys 100% stake in crypto media site CoinDesk: Report
CoinDesk was owned by Digital Currency Group who acquired the media company in 2016 for $50M. The new owner, Bullish, is headed by former New York Stock Exchange president Tom Farley.
Crypto media platform CoinDesk was acquired by crypto exchange Bullish on Nov. 20, according to a report published in the Wall Street Journal (WSJ).
The crypto exchange is headed by former New York Stock Exchange president Tom Farley. The media platform said that former Wall Street Journal editor-in-chief Matt Murray will chair an independent editorial committee while the current CoinDesk editorial team will remain intact.
According to the report, Bullish acquired the crypto media platform in an all-cash deal, though the terms of the deal were not disclosed. The media platform, formerly owned by Digital Currency Group, has been in the acquisition talks after DCG faced a financial crunch after one of the worst crypto winters over the past two years. DCG purchased CoinDesk for $500,000 in 2016.
The CoinDesk acquisition by Bullish was backed by investors such as Peter Thiel and Louis Bacon. However, the deal follows a canceled SPAC merger, and comes amid efforts to acquire parts of the bankrupt FTX's business.
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