Charles Hoskinson Eyes Acquisition of CoinDesk

Cardano founder Charles Hoskinson is weighing the prospect of acquiring CoinDesk, a publication focused on the crypto industry.

Buying Coindesk https://t.co/YNJYjKhIlx

— Charles Hoskinson (@IOHK_Charles) January 19, 2023

On January 19, it emerged that Digital Currency Group (DCG) is weighing the sale of all or part of CoinDesk to raise capital for its future growth.

According to DCG chief executive Kevin Worth, over the past few months the DCG subsidiary has received numerous signals of interest from potential buyers. The upper end of the bids stood at $200 million.

Hoskinson noted that he had not yet seen CoinDesk’s financial documents to make a final decision. In his view, the $200 million price tag was “a little high.”

“I could afford it if I really wanted to,” he added.

The Cardano founder noted an interest in media and said he wished to “find out how to return to journalistic integrity.”

Earlier, the group, which also includes Grayscale Investments, the Genesis Global Capital lending platform, mining company Foundry and the cryptocurrency exchange Luno, suspended dividend payments.

DCG needs liquidity amid Genesis Global Capital’s troubles. Genesis Global Capital owed $3 billion, according to reports. The amount includes claims from Gemini clients totaling $900 million. On January 19, Genesis filed for bankruptcy.

Cameron Winklevoss, Gemini co-founder, urged Barry Silbert to step down in a recent open letter.

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