Cardano Founder Offers to Buy CoinDesk for $200 Million

Charles Hoskinson, co-founder of blockchain Cardano, is considering acquiring popular crypto news outlet CoinDesk and revamping it into a combined news and community website.

Cardano Founder Offers to Buy CoinDesk for $200 Million

According to the Bloombergthe father of blockchain Cardano (ADA) is willing to spend 200 million USD to acquire CoinDesk – Crypto news site is “for sale” me in the middle of time DCG parent company in crisis.

On January 19, CoinDesk said it had asked Lazard for financial advice for options to sell part or all of the company. This is a unit specializing in supporting mergers, restructuring and capital structure.

Currently, CoinDesk is owned by Digital Currency Group, a corporation and parent company of the lending platform. Genesis just filed for bankruptcy a few hours ago.

CoinDesk was officially acquired by DCG in 2016 for about $500,000 to $600,000. However, the news site has kept the business valuation secret, but it is known that CoinDesk’s revenue in the past year can be up to $ 50 million, from a variety of advertising sources, data services and events.

Hoskinson, one of the founders of Ethereum, said on Twitter that he had heard CoinDesk was for sale for around $200 million, but he had not been able to find the company’s financial statement. The ADA boss asserts:

β€œFor $200 million, I find it a bit expensive, but I can still buy it if I really want to.”

Synthetic Kyptos

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img