Categories: Media News

CoinDesk sold to company run by former NYSE president

A company run by former New York Stock Exchange president Tom Farley said on Monday that it has acquired crypto-focused media company CoinDesk, reports Vicky Ge Huang of The Wall Street Journal.

Huang writes, “Bullish, the crypto exchange run by Farley, bought 100% of CoinDesk in an all-cash deal. Financial terms of the deal weren’t disclosed. Digital Currency Group, the parent company of CoinDesk, acquired the media company in 2016 for $500,000.

“The deal comes a year after CoinDesk broke news about Sam Bankman-Fried’s crypto empire that would ripple through the market and compound the financial troubles of its parent company.

“Bullish said that CoinDesk’s current management team, led by chief executive Kevin Worth, will stay in place and that the publication will operate as an independent subsidiary within Bullish.

“CoinDesk will launch an editorial committee to ensure journalistic independence, CoinDesk said. Matt Murray, the former editor in chief of The Wall Street Journal, will serve as chair of its editorial committee, the media company said.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.