Barry Silbert, Founder and CEO, Digital Currency Group
Anjali Sundaram|CNBC
Crypto trade publication CoinDesk is checking out a possible sale, working with consultants at Lazard to weigh a relocation that would eliminate it from Barry Silbert’s Digital Currency Group.
“Over the last few months, we have received numerous inbound indications of interest in CoinDesk,” CEO Kevin Worth stated in an emailed declaration. The Wall Street Journal was very first to report on the media business’s hiring of Lazard.
CoinDesk, which introduced in 2013, broke the very first story about prospective balance sheet improprieties at Sam Bankman-Fried’s AlamedaResearch That reporting triggered a down spiral at crypto exchange FTX, eventually resulting in the collapse of the business in November, the arrest of Bankman-Fried and several regulative probes.
The contagion from the FTX disaster struck CoinDesk sibling business Genesis, a crypto lending institution likewise owned by DCG that’s employed consultants for a possible insolvency filing after freezing withdrawals and loan originations. Genesis is likewise the topic of a Securities and Exchange Commission charge together with crypto exchange Gemini.
Worth stated Lazard will assist CoinDesk “explore various options to attract growth capital to the CoinDesk business, which may include a partial or full sale.”
An agent for DCG did not instantly react to ask for remark.
ENJOY: The SEC charges Genesis for unregistered securities sales
