{"id":83042,"date":"2023-08-15T10:10:09","date_gmt":"2023-08-15T07:10:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83042"},"modified":"2025-09-12T08:39:06","modified_gmt":"2025-09-12T05:39:06","slug":"coindesk-lays-off-45-of-editorial-staff-ahead-of-sale-of-company","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coindesk-lays-off-45-of-editorial-staff-ahead-of-sale-of-company\/","title":{"rendered":"CoinDesk lays off 45% of editorial staff ahead of sale of company"},"content":{"rendered":"

CoinDesk, a cryptocurrency media platform, laid off 45% of its editorial staff as its parent company, Digital Currency Group (DCG), plans to sell the project, according to The Block<\/a>.<\/p>\n

\n

\u201cThis was a necessary step to ensure the financial well-being of the business and to set us on the path to closing the sale of CoinDesk Inc,\u201d said Kevin Worth, the head of the company.<\/p>\n<\/blockquote>\n

The platform was founded in 2013. According to insiders, the layoffs affected about 20 employees.<\/p>\n

Management will hold a meeting soon to discuss the situation.<\/p>\n

Earlier, the WSJ reported<\/a> on the planned sale of CoinDesk at a $125 million valuation. The group of investors led by Matthew Roszak of Tally Capital and Peter Vessenes of Capital 6 is in the final stage of negotiations.<\/p>\n

In January, reporters said that DCG was considering<\/a> selling part or all of the media platform, which became part of the holding in 2016 after a purchase for $500,000\u2013$600,000.<\/p>\n

The potential deal could ease Digital Currency Group’s difficult position. On May 22, the holding company missed a $630 million payment<\/a> in compensation to Gemini Earn users.<\/p>\n

As noted, employment in the cryptocurrency sector fell by 10%<\/a> \u2014 from 210,000 to 190,000 employees.<\/p>\n

The layoffs were announced by Robinhood<\/a>, Dapper Labs<\/a>, Polygon<\/a>, Magic Eden<\/a>, Protocol Labs<\/a>, Bittrex<\/a>, Luno<\/a>, Blockchain.com<\/a>, Huobi<\/a>, Bybit<\/a>, STEPN<\/a>, TrueLayer<\/a> and others.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency media platform CoinDesk laid off 45% of its editorial staff as its parent company Digital Currency Group plans to sell the project.<\/p>\n","protected":false},"author":1,"featured_media":83043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[183,1276],"class_list":["post-83042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coindesk","tag-layoffs"],"aioseo_notices":[],"amp_enabled":true,"views":"44","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83042"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83042\/revisions"}],"predecessor-version":[{"id":83044,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83042\/revisions\/83044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83043"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}