Crypto exchange Bullish acquired the popular crypto news website CoinDesk in an all-cash deal.
Financial details of the deal were not revealed, but the current management team would remain.
CoinDesk will run as an independent subsidiary within the crypto exchange.
Cryptocurrency exchange Bullish completed the purchase of the popular crypto news website CoinDesk on Monday, the Wall Street Journal reported. Financial details of the acquisition were not disclosed.
Importantly, Bullish, led by former New York Stock Exchange (NYSE) President Thomas Farley, acquired the news website in an all-cash deal. With the acquisition, Bullish takes the reins from crypto investor Digital Currency Group, which reportedly purchased the company in 2016 for $500,000.
Per the report, the Kevin Worth-led management team at CoinDesk will remain. Furthermore, the crypto site will run as an independent subsidiary within Bullish.
“We believe that there is a rebound in the digital asset industry that has already begun,” Farley said in an interview. Moreover, Farley claimed that some of CoinDesk’s products and services were “good business” and that he would want to own …
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