But one thing is saying that the collapse of FTX sent the whole market into a state of crisis and it is the parent company of this news site, DCG, which is in a difficult situation and is looking for a way to raise capital from the investors.
Digital Currency Group CEO Barry Silbert has tried to reassure his investors, including Alphabet’s CapitalG and Western Union, that DCG is safe. It has $2 billion in debt, including $575 million borrowed from its fixed-line lender, Genesis, which has halted customer withdrawals and stopped new lending.
One of the proposed acquisition prices is $300 million, but this is deemed too low. CoinDesk generates approximately $50 million in revenue per year from traditional online advertising and its consensus conferences.
Sources said that CoinDesk has not officially launched the sales process, but it has attracted interest from many potential buyers, including private equity firms, family offices, and peer-to-peer publications. Players like Blockworks and hedge funds are finding hard assets.
The comments stated that the news site did not need to be sold for any reason related to its business. Genesis’ troubles could force DCG to choose between its subsidiaries, should DCG decide to discontinue the Genesis business so CoinDesk and Grayscale can continue to grow.
CoinDesk offers a fresh, unbiased perspective to industry watchers compared to media that have strong ties to FTX, such as the New York Times and the Wall Street Journal.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
Coincu News
Consensys Linea Decentralization advances with the new Swiss-based Linea Association, promoting governance, growth, and a…
Uncover the tale of a meme aficionado who parlayed a modest Pepe Coin investment into…
With the cryptocurrency market positioning itself for an upsurge within the years 2024–2025, it is…
Bitcoin trading volume has surged to an all-time high of $145 billion in the last…
Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…
Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…
This website uses cookies.