Bullish takes a 100% share in the cryptocurrency media website CoinDesk Report

 

Contents

• Former NYSE President Takes Crypto Helm
  
• Crypto Media Acquisition: Bullish's Secret Deal
• Corporate Tug-of-War: CoinDesk's Hot Property
• Singapore's Move: The Block's $70 Million Sale
  

According to a Wall Street Journal (WSJ) story, on November 20, cryptocurrency exchange Bullish purchased CoinDesk, a platform for sharing cryptocurrency news.

 Former NYSE President Takes Crypto Helm

Tom Farley, a former president of the New York Stock Exchange, leads the cryptocurrency exchange. The media outlet said that the present CoinDesk editorial staff would continue, with former Wall Street Journal editor-in-chief Matt Murray serving as the head of an independent editorial committee.

Crypto Media Acquisition: Bullish's Secret Deal

The article claims that Bullish paid full cash for the cryptocurrency media platform; however, the specifics of the transaction were not made public. After one of the harshest crypto winters in the last two years, Digital Currency Group had financial difficulties, leading to takeover negotiations for the media platform. For $500,000, DCG acquired CoinDesk in 2016.

Bullish, with the support of investors like Louis Bacon and Peter Thiel, acquired CoinDesk. Nonetheless, the transaction comes amid attempts to purchase a portion of the insolvent FTX's operations and following a rejected SPAC merger.

In advance of the release of version 2.0, OpenSea severance pays 50% of its employees' salaries.

Corporate Tug-of-War: CoinDesk's Hot Property

Bullish is not the only corporation that shown interest in CoinDesk, a media company that reportedly brings in $50 million annually. An earlier effort to buy CoinDesk for $125 million was made by an investment group headed by Matthew Roszak, but the transaction fell through.

Singapore's Move: The Block's $70 Million Sale

There are other cryptocurrency media companies that have had difficulties in a bear market besides CoinDesk. Following the disastrous collapse of the cryptocurrency exchange, The Block was likewise forced to sever relations with its original founders when connections to FTX were discovered. At a price of $70 million, the cryptocurrency news site sold the bulk of its shares to Foresight Ventures, a venture capital company located in Singapore. For $60 million, the venture capital group behind the acquisition purchased an 80% interest.