Marsbit Willing To Organize Well-known Funds To Cooperate To Buy Back CoinDesk
- The founder of Marsbit stated that the company is open to partnering with other companies to acquire CoinDesk.
- As it considers a possible sale, CoinDesk is looking for advice from Lazard, a corporation that specializes in mergers, restructuring, and capital management.
- According to Charles Hoskinson, the industry has recently seen the poor press, and news organizations’ ties to FTX have come under scrutiny since they received investments from entities connected to Sam Bankman-Fried.
The founder of Chinese cryptocurrency news portal Marsbit, Wang Feng, stated that Marsbit is open to working with other businesses to acquire CoinDesk.
“I believe in the future of the encryption industry, and I am willing to do infrastructure services down-to-earth, whether it is trading or media. Marsbit, a subsidiary of Encryption Elements, is willing to organize a number of well-known funds to jointly acquire and integrate Coindesk, including its encrypted media and consensus conference business. Interested investment funds and industry companies can talk. Or, whoever has further news and transactions can tell me.”
The Wall Street Journal stated that CoinDesk is looking for advice services from Lazard, a business that specializes in acquisitions, restructuring, and capital management, as the company considers a possible sale.
Charles Hoskinson, the creator of Cardano, discussed his interest in purchasing cryptocurrency news site CoinDesk during a YouTube Live event on January 20. He has seen unsuccessful media investments in recent years, and news organizations’ ties to FTX had come under scrutiny when they obtained businesses connected to Sam Bankman-Fried.
The Digital Currency Group, the parent company of lending subsidiary Genesis Capital which filed for bankruptcy on Thursday, first purchased Coindesk in 2016 for between $500,000 and $600,000.
Although the gross profit was close to $50 million, Charles Hoskinson claims he hasn’t seen CoinDesk’s books or financials. The transaction is being offered for roughly $200 million.
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