Bullish, a crypto exchange led by former New York Stock Exchange President Tom Farley, has acquired CoinDesk, a prominent crypto-focused media company. This all-cash deal marks a new chapter for CoinDesk, which was previously owned by Digital Currency Group. CoinDesk is known for its influential coverage of the crypto industry and made headlines in 2022 when it broke the news about the internal finances of crypto news platform FTX. This acquisition is part of Bullish’s strategy to strengthen its position in the growing crypto industry. CoinDesk will continue to operate independently within Bullish, with its current management team intact. The media outlet will establish an editorial committee to maintain its journalistic independence. Bullish, backed by investors like Peter Thiel’s Founders Fund, aims to expand its presence in the crypto market and is even considering bidding for the remnants of the collapsed crypto exchange FTX. CoinDesk reported $50 million in revenue last year and has plans to leverage Bullish’s Asian connections to expand its conference business into new markets. This acquisition comes after a challenging period for CoinDesk’s parent company, Digital Currency Group, which faced financial difficulties following FTX’s collapse. The deal represents a strategic shift for CoinDesk and could redefine its role in the ever-evolving crypto media landscape.

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Information	Details
Geography	Asia
Countries	🇺🇸
Sentiment	positive
Relevance Score	1
People	Matt Murray, Sam Bankman Fried, Kevin Worth, Tom Farley
Companies	CoinDesk, FTX, Bullish, Digital Currency Group, Genesis Global Capital
Currencies	None
Securities	None