According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that Coindesk had received takeover solicitations from several investors.
Investors are reportedly considering purchasing the cryptocurrency news publication Coindesk after a subsidiary of Digital Currency Group (DCG), Genesis Global Capital, filed for bankruptcy protection. Coindesk is an independently operated news and conference business that is wholly owned by DCG.
According to Charles Hoskinson, co-founder of Ethereum and founder of Cardano, sources familiar with the matter have indicated that the asking price for the news outlet Coindesk is around $200 million. Hoskinson has expressed interest in purchasing Coindesk, as stated in a Youtube video titled “Buying Coindesk.”
Hoskinson’s $200 million quote is less than the estimate given to Semafor at the end of Nov. 2022 when sources informed the news publication that investors were interested in buying Coindesk. At that time, Semafor’s Bradley Saacks and Liz Hoffman reported that there was a “suggested $300 million purchase price.” The report added that people familiar with the matter stated that the $300 million estimate was “considered too low.”
Semafor’s Bradley Saacks said Coindesk generates most of its revenue from events such as the Consensus conferences and advertising. Saacks notes that the revenue “pool of both is shrinking fast.” In addition to Charles Hoskinson, Wang Feng, the founder of China-based news publication Marsbit, has also announced intentions to purchase the publication. Marsbit is a news publication backed by Binance, the largest cryptocurrency exchange by trade volume.
Wang announced on Jan. 18, 2023, that Marsbit is willing to “organize a number of well-known funds to jointly acquire and integrate Coindesk,” according to the founder’s tweet. He also stated that the Consensus conference business would be included in the acquisition. Coindesk was originally founded in 2013 by entrepreneur Shakil Khan, who is also the co-founder of Prima Materia and an early investor in Bitpay.
Coindesk was acquired by DCG in Jan. 2016, for an estimated amount of $500,000 to $600,000, according to a report by Techcrunch reporter Lucas Matney. Coindesk published an article about the acquisition, noting that they were “excited” to join DCG and mentioning that DCG had been one of Coindesk’s “earliest investors and supporters.”
What do you think about the expressed interest in purchasing Coindesk by investors like Charles Hoskinson and Marsbit founder Wang Feng? Share your thoughts about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that Coindesk had received takeover solicitations from several investors.
Investors are reportedly considering purchasing the cryptocurrency news publication Coindesk after a subsidiary of Digital Currency Group (DCG), Genesis Global Capital, filed for bankruptcy protection. Coindesk is an independently operated news and conference business that is wholly owned by DCG.
According to Charles Hoskinson, co-founder of Ethereum and founder of Cardano, sources familiar with the matter have indicated that the asking price for the news outlet Coindesk is around $200 million. Hoskinson has expressed interest in purchasing Coindesk, as stated in a Youtube video titled “Buying Coindesk.”
Hoskinson’s $200 million quote is less than the estimate given to Semafor at the end of Nov. 2022 when sources informed the news publication that investors were interested in buying Coindesk. At that time, Semafor’s Bradley Saacks and Liz Hoffman reported that there was a “suggested $300 million purchase price.” The report added that people familiar with the matter stated that the $300 million estimate was “considered too low.”
Semafor’s Bradley Saacks said Coindesk generates most of its revenue from events such as the Consensus conferences and advertising. Saacks notes that the revenue “pool of both is shrinking fast.” In addition to Charles Hoskinson, Wang Feng, the founder of China-based news publication Marsbit, has also announced intentions to purchase the publication. Marsbit is a news publication backed by Binance, the largest cryptocurrency exchange by trade volume.
Wang announced on Jan. 18, 2023, that Marsbit is willing to “organize a number of well-known funds to jointly acquire and integrate Coindesk,” according to the founder’s tweet. He also stated that the Consensus conference business would be included in the acquisition. Coindesk was originally founded in 2013 by entrepreneur Shakil Khan, who is also the co-founder of Prima Materia and an early investor in Bitpay.
Coindesk was acquired by DCG in Jan. 2016, for an estimated amount of $500,000 to $600,000, according to a report by Techcrunch reporter Lucas Matney. Coindesk published an article about the acquisition, noting that they were “excited” to join DCG and mentioning that DCG had been one of Coindesk’s “earliest investors and supporters.”
What do you think about the expressed interest in purchasing Coindesk by investors like Charles Hoskinson and Marsbit founder Wang Feng? Share your thoughts about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.
Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday’s move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point.
Cosmos (ATOM), was one of Friday’s notable gainers, as the token moved closer to a key resistance level.
Following a low of $11.70 on Thursday, ATOM/USD raced to an intraday peak of $12.38 earlier today.
As a result of this move, cosmos moved towards a resistance point at the $12.50 level, which was last hit on Monday.
Looking at the chart, the 14-day relative strength index (RSI) is also hovering near a ceiling of its own, at 66.00.
Currently, the index is tracking at 65.85, which could lead to marginal consolidation, with earlier bulls opting to liquidate their positions.
However, should this aforementioned ceiling be broken, then it is likely that ATOM could move towards $13.00.
Like ATOM, solana (SOL) also edged higher, as the token continued to move away from a support point at $20.00.
SOL/USD rose to a high of $21.77 earlier in the session, and followed on from a low of $20.53 the day prior.
Today’s rally sees solana in a bullish attempt to regain market momentum, following recent declines in price.
As can be seen on the chart, the move took place despite the RSI remaining below its own ceiling at 68.00.
Due to this, earlier gains have somewhat eased, as traders seemed to be preparing for another reversal.
Currently solana is trading at $21.43, with longer-term bulls still likely targeting an exit at the $24.00 mark.
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Could solana maintain this rally over the next few weeks? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Source From : News