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Bullish Acquires CoinDesk: A New Era for Crypto News

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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.