Crypto site CoinDesk lays off 14, none in editorial

Cryptocurrency news site CoinDesk laid off 14 people on Monday, though none of them were on the editorial side of the operation.

A spokeswoman confirmed the cuts and provided the following statement:

Yesterday, CoinDesk, Inc had to make the difficult decision during the ongoing crypto winter to pare back on some non-core projects and consolidate some functions. No full-time reporters or editors from the editorial team were affected, but as a result, a restructuring took place, resulting in 14 full-time and additional contractor functions being removed. CoinDesk Indices was not impacted. We thank them for their vital contributions to building CoinDesk into the leading media, events, and indices company in crypto / Web3.

CoinDesk has been exploring a sale and hired an investment bank earlier this year to explore options.

In February, the George Polk Award for financial reporting was awarded to Ian Allison and Tracy Wang of CoinDesk for stories that brought Sam Bankman-Fried and his supposed $32 billion crypto currency empire crashing down in just 10 days.

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.