Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy

Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy
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According to several reports, investors would be interested in buying coindesk, a publication of new cryptocurrency. January 18, wang feng, founder of the Chinese press marsbit, announced its intention to buy coindesk with other members of the cryptography industry. The news comes in response to a Semafor report in late November 2022 that Coindesk had received requests from several investors.

Assumed asking price of Coindesk: 200 million dollars or more as Charles Hoskinson and Marsbit Express Interest in purchase.

Investors are planning to buy the release of new Coindesk cryptocurrency after an affiliate of Digital Currency Group (DCG), Genesis Global Capital, for bankruptcy protection. Coindesk is a fully owned independent news and conference company.

In Charles Hoskinson's opinion, co-founded ethereum and founded cardano, Sources who are well aware of the issue have indicated that the price charged for the press office is approximately $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 the time, Bradley Saacks from Semafor and Liz Hoffman said there was a "suggested purchase price of 300 million dollars." The report goes on to say that the people who know the file said that the $300 million estimate was "deemed too low".

Semafor Bradley Saacks said Coindesk generates most of its income from events such as consensus conferences and publicity. Saacks notes that income "pool of the two is in rapid decline." 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 binary-backed information publication, the largest cryptocurrency exchange by volume of commerce.

Wang announced on 18 Jan. 2023, that marsbit is ready to "organize a number of well-known funds to jointly purchase and integrate coindesk," according to the founder's tweet. He also said that the affairs of the consensus conference would be included in the purchase. 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 purchased by dcg in Jan. 2016, for an estimated $500,000 to $600,000, according to a techcrunch lucas matney journalist. Coindesk released a report on the acquisition, noting that they were "excited" to join DCG and stating that DCG had been one of the "first investors and supporters of Coindesk."

How do you feel about the interest shown by investors such as Charles Hoskinson and the founder of Marsbit, Wang Feng, in buying Coindesk? Reflect on these in the comments section below.

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