CoinDesk explores full or partial sale to attract growth capital, CEO says

Quick Take

  • Digital Currency Group’s crypto media outlet CoinDesk may pursue a full or partial sale as it seeks capital for its future growth, CEO Kevin Worth said.
  • CoinDesk received “numerous inbound indications of interest” over the last few months, according to Worth.

Crypto media outlet CoinDesk may pursue a full or partial sale to fuel future growth, CoinDesk confirmed to The Block.

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 reported.

“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, which may include a partial or full sale,” CEO Kevin Worth told The Block in a statement via email.

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Coindesk was originally acquired by the Digital Currency Group in 2016 for around $500,000 to $600,000. The company did not disclose its current valuation.

Another DCG company, Genesis Global Capital, is in the midst of negotiating a prepackaged bankruptcy plan with creditors. Genesis laid off 30% of its staff earlier this month.


© 2023 The Block. 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.

About Author

Jeremy Nation is a senior reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and Block.one. He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.

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