Bullish acquires crypto news site CoinDesk in an all-cash deal
Nickie Louise
Posted On November 20, 2023
Crypto Exchange Bullish has bought CoinDesk, a leading news and information platform for the crypto industry. In an announcement on Monday, Bullish revealed it has acquired 100% of CoinDesk from Barry Silbert’s Digital Currency Group (DCG) CoinDesk in an all-cash deal.
Although the financial details of the deal weren’t disclosed, the Wall Street Journal (WSJ) reported that Bullish bought 100% of CoinDesk in an all-cash deal. The move also signifies a growing interest in crypto news and data.
The acquisition would enhance Bullish’s presence and impact within the crypto market. The report adds that Bullish plans to seamlessly integrate CoinDesk into its platform, providing users with access to the platform’s content and services.
“A company run by former New York Stock Exchange President Tom Farley said on Monday that it has acquired crypto-focused media company CoinDesk. Bullish, the crypto exchange run by Farley, bought 100% of CoinDesk in an all-cash deal. Financial terms of the deal weren’t disclosed. Digital Currency Group, the parent company of CoinDesk, acquired the media company in 2016 for $500,000,” the WSJ reported.
In another notable development, CoinDesk appointed Matt Murray, the former editor-in-chief of the Wall Street Journal (WSJ), to chair its editorial committee. This committee is tasked with ensuring journalistic independence within the organization.
Founded in 2013 and acquired by DCG three years later, CoinDesk will continue to be under the leadership of Kevin Worth. It will operate independently as a subsidiary within Bullish, which is headed by Tom Farley, the former president of the New York Stock Exchange.
