Foresight

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 CoinDesk was owned by Digital Currency Group who acquired the media company in 2016 for $50M. The new owner, Bullish, is headed by former New York Stock Exchange president Tom Farley.
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 Crypto media platform CoinDesk was acquired by crypto exchange Bullish on Nov. 20, according to a&nbsp;report published in the Wall Street Journal (WSJ).
 The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> is headed by former New York Stock Exchange president Tom Farley. The <a rel="noopener noreferrer nofollow" title="media" href="https://thebittimes.com/tag/media.html">media</a> platform said that former Wall Street Journal editor-in-chief Matt Murray will chair an independent editorial committee while the current CoinDesk editorial team will remain intact.
 According to the report, Bullish acquired the crypto media platform in an all-cash deal, though the terms of the deal were not disclosed. The media platform, formerly owned by Digital Currency Group, has been in the acquisition talks after DCG faced a financial crunch after one of the worst crypto winters over the past two years. DCG purchased CoinDesk for $500,000 in 2016.
 The CoinDesk acquisition by Bullish was backed by investors such as Peter Thiel and Louis Bacon. However, the deal follows a canceled SPAC merger, and comes amid efforts to acquire parts of the bankrupt FTX's business.
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 According to reports, CoinDesk generates an annual revenue of $50 million, however, Bullish is not the only firm that showed interest in the <a rel="noopener noreferrer nofollow" title="media" href="https://thebittimes.com/tag/media.html">media</a> company. Earlier, an investor group led by Matthew Roszak attempted to purchase CoinDesk for $125 million, but the deal didn’t materilize.
 CoinDesk is not the only <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="media" href="https://thebittimes.com/tag/media.html">media</a> company to have struggled during the bear market. The Block also had to cut ties with its original founders after links with FTX surfaced after the cataclysmic collapse of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>. The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> news platform sold a majority of its <a rel="noopener noreferrer nofollow" title="stake" href="https://thebittimes.com/tag/stake.html">stake</a> to Singapore-based venture capital firm Foresight Ventures&nbsp;at a $70 million valuation. The VC firm behind the deal bought an 80% <a rel="noopener noreferrer nofollow" title="stake" href="https://thebittimes.com/tag/stake.html">stake</a> for $60 million.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-exchange-bullish-buys-100-stake-in-crypto-media-site-coindesk-report-tbt70942.html">https://thebittimes.com/crypto-exchange-bullish-buys-100-stake-in-crypto-media-site-coindesk-report-tbt70942.html</a>

Crypto exchange Bullish buys 100% stake in crypto media site CoinDesk: Report

TheBitTimes

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