crypto.news
Bullish acquires CoinDesk, planning substantial investment in its global expansion, and appoints the former Chief Editor from the Wall Street Journal as Editorial Committee Chair.
Bullish, a rapidly expanding regulated crypto exchange led by CEO Tom Farley, has acquired CoinDesk from Digital Currency Group. Tom Farley emphasized the strategic importance of this acquisition, noting CoinDesk’s critical role in shaping the global crypto and blockchain ecosystem through its esteemed editorial coverage, leading events, and market-influencing data and indices.
Bullish has acquired @CoinDesk, which will operate as an independent subsidiary and retain editorial independence. Bullish will immediately inject capital into several of CoinDesk’s most exciting growth initiatives which will power the launch of new services, events and products.… pic.twitter.com/vGIUXI9Jy3
— Bullish (@Bullish) November 20, 2023
Farley announced Bullish’s commitment to significantly invest in CoinDesk, driving its global expansion and enhancing its media, events, and indexing operations. This investment aims to catalyze the launch of new services, events, and products, amplifying CoinDesk’s influence and reach in the sector.
CoinDesk, under the continued leadership of CEO Kevin Worth and its existing management team, will operate as an independent subsidiary within Bullish. Worth expressed enthusiasm for the partnership, highlighting the potential for product development and expansion, particularly with the rejuvenated momentum in the crypto economy and Bullish’s backing.
1/ In 2016, @DCGco bought @CoinDesk for $500K, a small blog about bitcoin. Today we are thrilled to announce that CoinDesk was sold to @Bullish, making it one of our best investments of all timehttps://t.co/T8ac6uqZBj
— Barry Silbert (@BarrySilbert) November 20, 2023
The acquisition also brings a notable addition to CoinDesk’s team, with the appointment of Matt Murray, former Editor-in-Chief of The Wall Street Journal, as Chair of its Editorial Committee. Murray, who led The Wall Street Journal’s 1,300-person newsroom for five years, brings a wealth of experience and is tasked with ensuring the journalistic independence of CoinDesk.
The terms of the transaction are yet to be disclosed.