Decrypt, the news website covers crypto and web3, has signed a letter of intent to merge with Rug Radio, a decentralized media company for web3 creators, reports Sara Fischer of Axios.
Fischer reports, “The deal brings Decrypt further into the web3 ecosystem and gives Rug Radio and its ad partners closer proximity to the journalism brand and access to wider distribution.
“Catch up quick: Decrypt was formed with seed funding from ConsenSys Mesh, a blockchain startup incubator, in 2018. It spun out from ConsenSys Mesh after raising $10 million in 2022.
“In an interview, ConsenSys Mesh founder Joseph Lubin — who is also the co-founder of Ethereum — said his team has been pushing Decrypt to edge further into the web3 ecosystem.”
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