MarsBit, a Chinese publication, eyes CoinDesk acquisition

Founder of the Chinese cryptocurrency publication MarsBit, Van Feng, said he is willing to cooperate with other companies to acquire CoinDesk.

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I believe in the future of the crypto industry and am willing to pragmatically provide infrastructure services, whether for trading or media.
MarsBit, a subsidiary of Element Finance, is willing to organize several well-known funds to jointly acquire and integrate CoinDesk, including its crypto media and Consensus Conference business. Investment funds and industry companies are welcome to talk. Or, if anyone has further information, you can tell me. pic.twitter.com/URoNBUqDPq

— Xiao Yin | Element (@wangfeng_0128) January 19, 2023

«I believe in the future of the crypto industry and am ready to provide infrastructure services, whether it concerns trading or media. MarsBit, a subsidiary of Element Finance, is ready to organise a number of well-known funds for a joint acquisition of CoinDesk», — wrote Van Feng.

He added that he would be interested in talking with any investment structures or companies interested in partnering.

Van Feng launched a cryptocurrency publication called Mars Finance in 2018. It was later renamed MarsBit.

In 2019, the Bitcoin exchange Binance invested in the project. The valuation reached $200 million. The round also included Ceyuan Ventures and fintech startup Matrixport, founded by Jihan Wu.

On January 19, 2023, it emerged that Digital Currency Group (DCG) is considering selling a stake or 100% of CoinDesk to attract capital to spur its future growth.

According to the firm’s CEO, Kevin Worth, over the past several months the DCG subsidiary has received ‘numerous signals of interest’ from potential buyers. The top end of the bids was $200 million.

DCG needs liquidity amid Genesis Global Capital troubles. The latter has filed for bankruptcy. The filing shows more than 100,000 creditors with assets and liabilities ranging from $1 billion to $10 billion. The figures for its subsidiaries vary between $100 million and $500 million.

Earlier, interest in acquiring CoinDesk was shown by Cardano founder Charles Hoskinson.

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