Barry Silbert's crypto empire continues to spiral as ex-NYSE president buys news site CoinDesk
Publishing timestamp: 2023-11-20 19:21:48
Summary
Bullish, a digital asset exchange led by ex-NYSE chief Tom Farley, has acquired CoinDesk from Barry Silbert's Digital Currency Group. This acquisition is seen as a sign of Silbert's crypto empire dwindling. CoinDesk will operate as an independent subsidiary of Bullish, and the terms of the purchase have not been disclosed. CoinDesk had been on the market for months and had received unsolicited offers for over $200 million. The deal with Bullish came together quickly, and the existing management team will remain in place with an added layer to ensure journalistic independence. Silbert's other ventures, including Grayscale Investments, have also faced challenges.
Sentiment: NEGATIVE
Keywords: fintech, bitcoin/usd coin metrics, cryptocurrency, grayscale bitcoin trust (btc), business news, energy, bitcoin, technology,
Source: https://www.cnbc.com/2023/11/20/barry-silbert-sells-coindesk-to-ex-nyse-president-.html