CoinDesk, a renowned media company specializing in cryptocurrency news and insights, is on the brink of a significant deal, as it looks to be sold to an investor group for an impressive $125 million. The news, which was initially reported by the Wall Street Journal, has been confirmed by Axios. This acquisition comes as its parent company, Digital Currency Group (DCG), grapples with the challenges posed by the downturn in the crypto industry. Let’s delve into the details of the deal and its implications.

Details of the Deal


The investor group leading this acquisition effort comprises Matthew Roszak’s crypto-focused investment firm, Tally Capital, and Peter Vessenes of VC firm Capital6. As part of the agreement, DCG will retain a stake in CoinDesk’s media, events, data, and index business. The finalization of the deal is expected in the upcoming weeks, with CoinDesk’s existing management team set to remain on board to ensure continuity.

Read more: Federal Reserve Launches ‘FedNow’ Instant Payment System

CoinDesk’s Journey

Coindesk Then Vs Now

Founded in 2013, CoinDesk had previously raised approximately $2 million in seed funding from investors, including Digital Currency Group, 500 Startups, and Science Inc. It was acquired by DCG in 2016 for $500,000. However, the recent downturn in the cryptocurrency market, often referred to as “crypto winter,” has taken its toll on DCG’s operations.

Impact of the Crypto Winter

Image 26

DCG has faced significant challenges in the wake of the crypto crash over the past year and a half. Genesis Global, DCG’s crypto lending arm, is currently undergoing bankruptcy proceedings, and DCG has been forced to shut down its institutional-trading platform, TradeBlock, and its wealth-management unit, HQ.

A Considered Move

The potential sale of CoinDesk was first hinted at in January, signaling the company’s strategic approach to adapt to the changing market dynamics. By aligning with an investor group led by prominent figures in the crypto investment and venture capital domains, CoinDesk seeks to secure a stronger position and capitalize on the evolving landscape of cryptocurrency media.


The impending $125 million deal for CoinDesk represents a significant development in the cryptocurrency media industry. As DCG navigates through the challenges brought on by the crypto winter, this acquisition may offer a fresh start for CoinDesk and pave the way for further growth and innovation in the dynamic world of cryptocurrencies. With its current management team continuing to steer the ship, CoinDesk is poised to capitalize on emerging opportunities and maintain its position as a leading source of crypto-related news and insights for enthusiasts and investors alike.

Follow CoinWire on Google News