Crypto exchange Bullish, led by former New York Stock Exchange (NYSE) president Tom Farley, had bought crypto site CoinDesk from Digital Currency Group (DCG) in an all-cash deal. The site has been bought 100 percent. However, the amount of the deal remains unknown. The staff is expected to remain, and Matt Murray, who was the former Wall Street Journal Editor-in-Chief, will chair a new independent editorial committee. The news was first reported by the WSJ.
According to a press release, Kevin Worth will continue to lead CoinDesk and the current management team. The integrated media, events, and index platform will be an independent subsidiary within the parent Bullish.
Tom Farley, who is the CEO of Bullish, spoke of “injecting capital” to power many growth initiatives that have been undertaken by the platform, and the company would also help launch “new services, events, and products” and more.
Kevin Worth, who is the CEO of CoinDesk, said that “the next phase of CoinDesk’s growth” was poised to begin after it partnered with Bullish. He also thanked Barry Silbert for helping CoinDesk to become a “meaningful and everlasting business” and more.
Barry Silbert, who is the founder of Digital Currency Group (DCG) said that he had been proud of the growth of CoinDesk in the past seven years and described it as a company with “tremendous future potential.” He also said that they looked forward to CoinDesk reaching “the next level in partnership with Bullish” and more.
CoinDesk also announced that Matt Murray would serve as Chair of its Editorial Committee for the platform “to ensure journalistic independence.” Murray spent 15 years in senior leadership roles and led a 1,300-person newsroom at the WSJ.
CoinDesk began exploring potential sales in January. In August, about 16 percent of its workers were laid off. An earlier deal by Matthew Roszak of Tally Capital and blockchain investor Peter Vessenes reported in July this year, had fallen through. Now the deal with Bullish has gone through.
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