Cardano founder Charles Hoskinson has expressed interest in acquiring the Coindesk platform and plans to turn it from a cryptocurrency news site into another kind of platform.
About the Acquisition of CoinDesk
The news of CoinDesk being put up for sale comes on the heels of last week’s bankruptcy of Genesis, a crypto lending company affiliated with Digital Currency Group. CoinDesk was acquired by DGC in 2016. Following the bankruptcy of Genesis, CoinDesk announced that it was in talks with Lazard, a financial advisory firm. As a result of the negotiations, the possibility of selling all or part of the CoinDesk platform emerged.
Charles Hoskinson’s Statements on the Buy
Following the news, Cardano founder Charles Hoskinson said in a statement that he was considering buying the CoinDesk platform. However, the projected $200 million sale price of the CoinDesk platform was too much for Hoskinson. The platform was acquired by DGC in 2016 for $500,000, and its current projected value is $200 million.
Reasons for Wanting to Buy Coindesk
Charles Hoskinson shared his reasons for wanting to buy the platform during a Youtube Live event that took place on January 20. Hoskinson believes that the media has unfairly criticized the crypto sector, especially recently. This criticism started with the FTX incident, and as a result of the criticism, many companies associated with FTX have suffered credibility problems.
As a result, the $200 million offer may seem too much for Hoskinson, but the company’s gross profit is worth about $50 million. In addition, the platform’s readership and influence on the crypto sector are high. In line with this information, we will see Hoskinson’s final decision in the coming days.
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