February 2023
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Business

News site CoinDesk attracts takeover offers

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CoinDesk, the online news site whose story on cracks in Sam Bankman-Fried’s crypto empire sparked an industry-wide meltdown, has attracted takeover interest, reports Bradley Saacks and Liz Hoffman of Semafor.

Saacks and Hoffman report, “CoinDesk does not need to be sold for any reason related to its business.

“The troubles at Genesis may force Silbert to choose between his children, and he could decide to let Genesis go bankrupt so CoinDesk (and Grayscale) can continue to churn ahead.

“Typically, lenders are more profitable than media outlets, but crypto is not your typical industry. CoinDesk may be able to survive a cold stretch after its recent month.

“The FTX reporting from the outlet — which was linked to in publications like The New York Times and Wall Street Journal — has brought new eyes to the site and its reporters, opening it to new audiences.”

Read more here.



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