CoinDesk Purchased by Digital Currency Group

Digital Currency Group, an investor and holding firm focused on developing businesses that deal in bitcoin and other cryptocurrencies, has acquired the industry publication CoinDesk, the company said in a statement on Wednesday.
The editorial and business teams at CoinDesk will merge with DCG’s new events platform, doubling its size and forming a new New York-based subsidiary focused on providing news coverage, research, and events.
DCG’s founder and chief executive officer, Barry Silbert, declined to disclose the acquisition price for CoinDesk. DCG was one of the initial investors in CoinDesk when it started in 2013.
CoinDesk is the first acquisition for DCG, Ryan Selkis, director of growth at DCG, said in a phone interview. Selkis will run the merged media company and the group’s events unit.
It joins DCG’s other companies, which includes a global investment portfolio of bitcoin and blockchain ventures, Genesis Global Trading, an institutional-focused digital currency trading desk, and Grayscale Investments, an asset manager that manages the Bitcoin Investment Trust.
CoinDesk’s headquarters were moved to New York from London, Selkis said. The media outfit currently has 10 employees, plus contributors spread across two offices in London and New York.

About Sean Williams 109 Articles
I'm markets editor and journalist for DFN. I've been involved with crypto for over 4 years and am an enthusiastic advocate. At DFN I try and combine my knowledge of markets with my knowledge of crypto to give a good overview of changes in the financial aspects of cryptocurrencies.

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