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$200 Million on the Table: Sale Of CoinDesk Picks Up Steam

Finance

u.today 24 January 2023 18:13, UTC
  
Reading time: ~2 m

According to Fox Business reporter Eleanor Terrett, investment bankers intend to fork out as much as $200 million for cryptocurrency news site Coindesk despite the fact that some buyers believe that the price tag is too high.

As reported by U.Today, Cardano founder Charles Hoskinson recently expressed his interest in buying the media outlet in order to restore journalistic integrity while also innovating the industry with new technologies such as non-fungible tokens (NFTs).

After a series of calamitous events affecting its parent company Digital Currency Group (DCG), crypto CoinDesk started considering a sale, according to various media reports.

Last week, CNBC reported that Coindesk had enlisted advisors from Lazard to explore a range of options that include a potential sale.

The cryptocurrency news site founded in 2013 by entrepreneur Shakil Khan. The media company was then acquired by Digital Currency Group for roughly $500,000 in January 2016.


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