Cardano Founder Suggests Buying CoinDesk News Site

  1. Charles Hoskinson, the co-founder of Cardano, considers acquiring Coindesk.
  2. CoinDesk is contemplating the possibility of selling the business.
  3. CoinDesk has retained the services of Lazard Ltd.

Charles Hoskinson, the co-founder of the Cardano blockchain network, has stated that he is considering purchasing CoinDesk, the media arm of the financially troubled Digital Currency Group (DCG). Hoskinson stated that he is considering the acquisition of CoinDesk because of his interest in blockchain technology.

Hoskinson indicated that there is a need to restore journalistic integrity to reporting on blockchain and cryptocurrencies and that he is contemplating making the purchase.  There are also rumblings that CoinDesk is contemplating the possibility of selling the business.

Talking in a YouTube Livestream on Thursday in the U.S.Hoskinson said;

My interest in the media side is broader… I would like to figure out how to get to journalistic integrity again.

To elaborate on his previous statements, Hoskinson provided an estimate stating that the cost of purchasing CoinDesk would be in the range of US$200 million and that he would analyze the financial facts before making a decision.

According to him, a decentralized method of holding crypto media more accountable for truth would be to provide financial incentives to readers as well as the community around blockchain technology.

According to a story from this week in the Wall Street Journal, CoinDesk has retained the services of Lazard Ltd. as a financial adviser in order to investigate the possibility of selling the online cryptocurrency news organization.

In other news, on Thursday the cryptocurrency brokerage arm of Digital Currency Group, Genesis Global Capital, filed for bankruptcy in New York. This came after the collapse of the exchange left it loaded with debt.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer