<p><span style="font-weight: 400;">Crypto media outlet CoinDesk may pursue a full or partial sale to fuel future growth, CoinDesk confirmed to The Block.</span></p> <p><span style="font-weight: 400;">CoinDesk is seeking advisory services from Lazard, a firm specializing in mergers, restructuring and capital strategy, as the company explores a potential sale, The Wall Street Journal first <a href="https://www.wsj.com/articles/crypto-media-outlet-coindesk-taps-bankers-for-potential-sale-11674076000?reflink=share_mobilewebshare">reported</a>.</span></p> <p><span style="font-weight: 400;">“Over the last few months, we have received numerous inbound indications of interest in CoinDesk. As such, I have engaged Lazard as our financial advisor to assist. My goal in hiring Lazard is to explore various options to attract growth capital to the CoinDesk business, </span><span style="font-weight: 400;">which may include a partial or full sale,” CEO Kevin Worth told The Block in a statement via email.</span></p> <p><span style="font-weight: 400;">Coindesk was originally </span><a href="https://techcrunch.com/2016/01/13/coindesk-acquired-by-digital-currency-group/"><span style="font-weight: 400;">acquired</span></a><span style="font-weight: 400;"> by the Digital Currency Group in 2016 for around $500,000 to $600,000. The company did not disclose its current valuation.</span></p> <p><span style="font-weight: 400;">Another DCG company, Genesis Global Capital, is in the midst of negotiating a prepackaged </span><a href="https://www.theblock.co/post/203310/genesis-creditors-negotiating-prepackaged-bankruptcy-sources"><span style="font-weight: 400;">bankruptcy</span></a><span style="font-weight: 400;"> plan with creditors. Genesis </span><a href="https://www.theblock.co/post/199576/genesis-cuts-30-of-staff-in-latest-round-of-layoffs"><span style="font-weight: 400;">laid off</span></a><span style="font-weight: 400;"> 30% of its staff earlier this month.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>