Faced with a liquidity crunch, Digital Currency Group (DCG) is considering selling popular news outlet CoinDesk. The cost of the service reaches $200 million.
According to The Wall Street Journal, CoinDesk management is now consulting with specialists from Lazard. This company specializes in mergers, sales, restructuring and business strategy.
“Over the past months, we have received many incoming proposals. Many firms and investors are interested in a full or partial buyout of CoinDesk. So I turned to Lazard. We hired experts from this company to evaluate various opportunities and raise capital for business development,” said Kevin Worth, CEO of the publication.
It is worth noting that the CoinDesk edition was purchased by DCG in 2016. The transaction amount ranged from $500,000 to $600,000. Thus, over 6 years, the cost of the publication increased by 400 times.
Earlier, Bits.Media published a large-scale article about the causes and consequences of the DCG liquidity crisis and the Gemini exchange.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
