Thomas and Huang report, “CoinDesk’s parent company, Digital Currency Group Inc., or DCG, has received multiple unsolicited offers north of $200 million in the past few months, according to people familiar with the matter. DCG acquired the media company in 2016 for $500,000, the people said. CoinDesk generated $50 million in revenue last year from online advertising as well as its index and events business, they said.
“The $13.5 billion Grayscale Bitcoin Trust, offered by CoinDesk sister company Grayscale Investments, tracks the CoinDesk Bitcoin Price Index.
“The last year was marked by a series of crypto bankruptcies as the Federal Reserve boosted interest rates, deflating the most speculative investments.
“Crypto exchange FTX’s problems tumbled into the open on Nov. 2, when CoinDesk published a report questioning the financial health of both FTX and its sister trading firm, Alameda. FTX filed for bankruptcy protection just days later, and Sam Bankman-Fried resigned as CEO.”
Read more here.
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