News site CoinDesk attracts takeover offers

CoinDesk, the online news site whose story on cracks in Sam Bankman-Fried’s crypto empire sparked an industry-wide meltdown, has attracted takeover interest, reports Bradley Saacks and Liz Hoffman of Semafor.

Saacks and Hoffman report, “CoinDesk does not need to be sold for any reason related to its business.

“The troubles at Genesis may force Silbert to choose between his children, and he could decide to let Genesis go bankrupt so CoinDesk (and Grayscale) can continue to churn ahead.

“Typically, lenders are more profitable than media outlets, but crypto is not your typical industry. CoinDesk may be able to survive a cold stretch after its recent month.

“The FTX reporting from the outlet — which was linked to in publications like The New York Times and Wall Street Journal — has brought new eyes to the site and its reporters, opening it to new audiences.”

Read more here.

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.