JAKARTA - The emergence of various platforms and companies related to digital currencies is proof that the development of this technology is getting faster. One of the platforms related to the crypto world is CoinDesk, an online media that focuses on reporting on digital currencies and blockchain technology. The latest news states that CoinDesk is looking for buyers.
Various parties are also interested in buying the online media, including Binance CEO Changpeng 'CZ' Zhao and Cardano (ADA) founder Charles Hoskinson. However, Zhao immediately denied the news through his Twitter account.
Zhao issued his statement on March 14 through his Twitter account to refute reports from Blockwork that Binance was seeking to acquire CoinDesk through a subsidiary CoinMarketCap. According to Zhao, Binance is not interested in buying CoinDesk because it does not match Binance's "geographic coverage".
CoinDesk is part of the Digital Currency Group (DCG), the parent company of the bankrupt Genesis and crypto investment firm Grayscale. DCG reportedly wants to sell CoinDesk due to liquidity problems faced by its bankrupt subsidiary.
In January, CoinDesk CEO Kevin Worth confirmed that the company was looking for a buyer. Charles Hoskinson, founder of Cardano (ADA), previously showed interest in buying the company, but considered the company too expensive with a valuation of $200 million.
Previously, Binance had invested the same value in the old Forbes media outlet in 2022 and invested around $500 million for the purchase of Elon Musk's Twitter account. However, Zhao insists that Binance is not interested in buying CoinDesk for geographical reasons.
Even so, Binance remains an important player in the crypto industry. The exchange has an average daily trading volume of $28 billion, making it the second largest crypto exchange in the world based on trading volume.
CoinDesk itself is a leading crypto media platform that provides news, analysis, and information related to the crypto industry. The company was founded in 2013 and has become an important source of information for industry players crypto, investors, and market observers. However, like many other media companies, CoinDesk is experiencing financial challenges. Earlier this year, the company was reportedly looking for buyers to maintain its business continuity.
With Binance's refusal to buy CoinDesk, crypto industry players and market observers are now looking forward to who will become potential buyers. Charles Hoskinson previously showed interest in buying the company, but considered the price too high.
For crypto industry players, especially crypto media, this situation shows the importance of maintaining stable business independence and continuity amid changes and challenges in the growing crypto market.
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