Crypto

WSJ News Exclusive | Crypto Media Outlet CoinDesk Appeals to Bankers for Potential Sale

CoinDesk’s parent company is Digital Currency Group Inc., or DCG, which operates the media platform as well as an events business and cryptocurrency price indices.


Photo:

Jordan Vonderhaar/Bloomberg News

CoinDesk Inc., a cryptocurrency-focused media company, has hired investment bankers to

lazard ltd.

LAZ -0.03%

to help it explore options, including a partial or full sale, according to its chief executive.

“Over the past few months, we have received many expressions of interest in CoinDesk,” said CoinDesk CEO Kevin Worth.

Mr. Worth confirmed the company’s recent engagement with Lazard and its exploration of a potential transaction.

CoinDesk, whose parent company is Digital Currency Group Inc., or DCG, operates the media platform as well as an events business and cryptocurrency price indices.

Amid the fallout in the crypto industry since The collapse of FTX, DCG looks at its own problems. Other DCG businesses, such as fund manager Grayscale Investments and bitcoin miner Foundry also face significant challenges. DCG’s huge crypto lender, Genesis Global Trading Inc., recently laid off 30% of its staff and plans to file for bankruptcy, The Wall Street Journal reported earlier this month.

Write to Lauren Thomas at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

.

#WSJ #News #Exclusive #Crypto #Media #Outlet #CoinDesk #Appeals #Bankers #Potential #Sale #Crypto

Related Articles

Back to top button