Market News

Marsbit wants to lead a group of funds to purchase CoinDesk

Charles Hoskinson the founder of Cardano buying CoinDesk

Wang Feng, the founder of Chinese crypto news outlet Marsbit, has announced that his company is willing to work with other firms to buy CoinDesk, the crypto news outlet.

He stated on Twitter that he believes in the future of the crypto industry, and that he is willing to provide infrastructure services in a down-to-earth manner, whether it’s trading or media.

He added that Marsbit is willing to organize many well-known funds to cooperate to buy CoinDesk, including its crypto media and all its Consensus conference business.

He also expressed interest in speaking to any investment funds or companies interested in partnering on this.

The news comes as CoinDesk’s parent company, Digital Currency Group (DCG), is looking to sell the news outlet as it faces troubles with its other subsidiary, Genesis, which filed for Chapter 11 bankruptcy on January 20.

The Wall Street Journal reported that CoinDesk has retained investment bankers at Lazard to explore a potential sale.

Charles Hoskinson, the founder of Cardano, has also expressed interest in buying CoinDesk, and stated that the current asking price for the news site is around $200 million.

In 2019, Binance invested in Mars Finance, which later evolved into Marsbit. The company already had investors including crypto exchange Huobi and OK Capital, an investment entity related to the OKX crypto exchange.

Tags

I am a dedicated crypto and blockchain content writer who is vision-oriented, diligent, smart, and self-motivated. I have over a decade of self-writing experience and five years of experience as a professional writer. I hope to inspire other women into this ever-evolving field.