Crypto exchange Bullish buys 100% stake in crypto media site CoinDesk: Report
The Coindesk acquisition deal by Bullish Crypto exchange saw backing from notable investors such as Peter Thiel and Louis Bacon....
- Crypto media platform CoinDesk has been acquired by crypto exchange Bullish in an all-cash deal.
- Former Wall Street Journal editor-in-chief Matt Murray will chair an independent editorial committee for CoinDesk.
- The current CoinDesk editorial team will remain intact.
- The terms of the deal were not disclosed.
- CoinDesk was previously owned by Digital Currency Group and was acquired for $500,000 in 2016.
- The acquisition was backed by investors such as Peter Thiel and Louis Bacon.
- CoinDesk generates an annual revenue of $50 million.
- Bullish is not the only firm that showed interest in acquiring CoinDesk.
- The Block, another crypto media company, also faced struggles during the bear market and sold a majority stake to Foresight Ventures.
The sentiment of the article is mostly neutral, providing factual information about the acquisition of CoinDesk by Bullish and the struggles faced by crypto media companies during the bear market.