cryptonews.net
Amid the troubles at DCG, Charles Hoskinson, the inventor of Cardano, said on Friday that he is thinking of purchasing CoinDesk, a website dedicated to cryptocurrency news, to transform it into a community and news website. Although the transaction is genuinely fair, he thinks the $200 million asking price is a little high, given the readership, cryptocurrency events, and industry influence.
Why purchase CoinDesk?
Charles Hoskinson, the inventor of Cardano, discussed his interest in purchasing cryptocurrency news site CoinDesk during a YouTube Live event on January 20. The relationship between news organizations and FTX has allegedly come under scrutiny as a result of the news outlets receiving investments from entities connected to Sam Bankman-Fried, according to him.
On Wednesday, CoinDesk said it had employed Lazard's financial consultants to investigate possibilities, including a partial or wholesale. The owner of the news website is Digital Currency Group, whose lending division Genesis Capital recently declared bankruptcy.
Although the gross profit was close to $50 million, Charles Hoskinson claims he has not seen CoinDesk's books or financials. The transaction is being offered for roughly $200 million. For around $500,000, DCG purchased CoinDesk in 2016.