Cryptocurrency exchange Bullish said on Monday it has acquired crypto news website CoinDesk from Barry Silbert’s Digital Currency Group (DCG).
Bullish purchases CoinDesk with plans to spend heavily in the company’s international growth and names the former Wall Street Journal chief editor as chair of the editorial committee.
Digital Currency Group has sold CoinDesk to Bullish, a regulated cryptocurrency exchange run by CEO Tom Farley that is growing quickly. Tom Farley underlined the acquisition’s strategic significance, pointing out that CoinDesk’s prestigious editorial coverage, agenda-setting events, and market-moving statistics and indexes have all played a crucial part in forming the global cryptocurrency and blockchain ecosystem.
Bullish has committed to investing a substantial amount in CoinDesk, Farley said, in order to propel the company’s worldwide expansion and improve its media, events, and indexing capabilities.
With this investment, CoinDesk hopes to expand its reach and influence within the industry by introducing new services, events, and goods. Under the continuous direction of CEO Kevin Worth and the current staff, CoinDesk will function as a stand-alone division of Bullish.
Worth was excited about the collaboration and emphasized product development and growth opportunities, especially with Bullish’s support and the resurging momentum in the cryptocurrency market.
The acquisition also resulted in hiring Matt Murray, a former Wall Street Journal editor-in-chief, as chair of CoinDesk’s editorial committee, a noteworthy addition to the company.
Murray brings many experiences and is entrusted with maintaining CoinDesk’s journalistic independence. Murray oversaw The Wall Street Journal’s 1,300-person staff for five years.
