Crypto
Bullish Acquires CoinDesk: A New Era for Crypto News
courtesy of bitcoinist.com
All-Cash Deal Marks New Chapter for CoinDesk
Crypto exchange Bullish, led by former NYSE President Tom Farley, has announced its acquisition of CoinDesk, a prominent crypto-focused media company. The all-cash deal signifies a new era for CoinDesk, previously under Digital Currency Group, since its acquisition in 2016.
Strengthening Foothold in the Nascent Industry
Bullish aims to solidify its position in the crypto industry with this acquisition. Farley emphasizes the potential rebound of the digital assets industry and the strong business foundations of CoinDesk’s products and services.
CoinDesk's Independence and Leadership Maintained
Under Bullish's ownership, CoinDesk will continue to operate independently, retaining its current management team, including CEO Kevin Worth. CoinDesk will establish an editorial committee to ensure journalistic independence, chaired by Matt Murray, former editor-in-chief of The Wall Street Journal.
Expansion Plans and Ambitions
Bullish, backed by investors like Peter Thiel’s Founders Fund and Louis Bacon, scrapped a $9 billion public merger last year. Now, it sets its sights on the remnants of the collapsed crypto exchange FTX, hinting at ambitious expansion plans. CoinDesk's diversified business lines in media, events, and indexes reported $50 million in revenue last year.
Capitalizing on the Anticipated Crypto Sector Upswing
Bullish's acquisition of CoinDesk demonstrates its commitment to investing heavily in the media company's growth. Farley believes in the rebound of the digital assets industry and sees CoinDesk's products and services as valuable assets to own in a crypto bull run.
A Strategic Shift for CoinDesk
This deal represents a strategic shift for CoinDesk, which had explored sale options earlier this year. Under Bullish's wing, CoinDesk could redefine its role in the ever-evolving crypto media landscape, capitalizing on the opportunities ahead.
Hello, I’m Timothy Robinson, News Editor at NewsRoomFeed.com, where I turn the world’s chaos into digestible stories. Blessed with a journalism degree from UNT, I’ve been molding minds and spreading knowledge from the tranquil setting of Denver, CO.
My days are spent in the throes of international affairs, political commentary, and local happenings, but when the laptop closes, you’ll see a completely different side of me. I’m an avid tennis player and cycling enthusiast. I never shy away from a good adventure. My Labrador, Rocky, is always by my side as we explore the great outdoors of Colorado.
Traveling is my stimulant. It’s my way of stepping into new narratives, experiencing different cultures, and appreciating the beautiful tapestry of life. Each new place I visit fuels my creativity and broadens my perspective, which I pour back into my work at NewsRoomFeed.
When I’m not on the road with Rocky or lost in a gripping news story, you’ll find me on the tennis court or cycling around Denver. These hobbies keep me grounded and offer a refreshing escape from the digital universe.
I believe in creating a balance between the hustle of work and the peace in nature. So, if you’re looking for a fresh take on news, a travel companion, or an opponent on the tennis court, don’t hesitate to connect. Let’s turn the page on the ordinary and dive into the extraordinary!
