Coindesk Changes Hands in All-Cash Acquisition Deal

Bullish, a Block.one subsidiary known for its institutional digital asset exchange and in-house automated market making (AMM) technology, has purchased Coindesk, a well-known crypto media outlet established in 2013, in a calculated move. Through the transaction, Coindesk enters a new ownership structure and Bullish broadens its portfolio into media, representing a significant step for both organizations.

According to the transaction details in a news statement, Bullish bought Coindesk from Digital Currency Group (DCG), a Barry Silbert-founded venture capital business. Bullish’s recent acquisition of Coindesk, which DCG had previously bought in 2016, marks a significant turning point for the cryptocurrency media platform.

The founder and CEO of Digital Currency Group, Barry Silbert, acknowledged Coindesk’s evolution from a little bitcoin blog to an award-winning media and events organization and expressed delight in the company’s progress over time. The purchase occurs at a time when established players are adjusting to the realities of the sector and the crypto media landscape is changing.

Bullish’s Diverse Crypto Portfolio and Block.one’s Influence

Bullish’s parent firm, Block.one, is well-known for creating the EOS blockchain and organizing one of the biggest initial coin offers (ICOs) ever. With large investments in a range of businesses and initiatives, such as Chainwise Group, Upland, Niftyz, Coindcx, Silvergate Capital, and Skystone Games, Block.one has had a major impact on the development of the cryptocurrency industry.

The purchase price is yet unknown, but according to The Wall Street Journal, Bullish is committed to adding Coindesk to its growing cryptocurrency portfolio, as evidenced by the fact that the transaction was all cash.

Coindesk has established an editorial committee in reaction to the shifting media environment and to strengthen journalistic independence. The Wall Street Journal’s former editor-in-chief, Matt Murray, has joined the group as the head of the editorial committee. The CEO of Coindesk, Kevin Worth, highlighted the value of having faith in the digital asset sector and expressed assurance that Matt will be able to keep Coindesk independent.

With Bullish’s acquisition, Coindesk now has more opportunities under its new ownership, paving the way for technological and media collaborations in the cryptocurrency space.