Changpeng Zhao, CEO of Binance, has dismissed reports that the cryptocurrency exchange was looking to acquire CoinDesk.
The crypto media platform, owned by Digital Currency Group, has been put up for sale, with Cardano founder Charles Hoskinson reportedly expressing interest.
Zhao responded to the rumors in a tweet on March 14, clarifying that Binance was “not buying” CoinDesk due to it not fitting with their “geographic coverage.” He added that while CoinDesk may be a good business, it was not a good fit for Binance.
CoinDesk is a leading media platform in the cryptocurrency industry, but has faced liquidity issues due to its parent company’s financial troubles.
The news of the potential acquisition had caused a stir in the industry, with many speculating on the implications of such a deal.
Binance’s investment in Forbes in 2022 had led to speculation that they could be looking to expand their reach in the media industry. However, Zhao’s statement has now put to rest any rumors of Binance acquiring CoinDesk.