CoinDesk (Crypto trade publication) hires Lazard for exploring a sale as Crisis Deepens at DCG, its parent company. CoinDesk (Crypto trade publication) is exploring a potential sale. It is hiring advisors at Lazard to make a move that will remove it from the Digital Currency Group of Barry Silbert.
The CEO Kevin Worth said in an emailed statement that over the last few months, they have received numerous inbound indications of interest in CoinDesk. Here, the Wall Street Journal was the first to report on the company’s hiring of Lazard.
About the Company
CoinDesk was launched in the year 2013. It broke the 1st story about the potential balance sheet improprieties. It was at the Sam Bankman-Fried’s Alameda Research. That reporting sparked a debate at the crypto exchange FTX, ultimately leading to the company’s collapse in November. Also, this included the arrest of Bankman-Fried and other regulatory probes made.
The contagion from the FTX meltdown also hit CoinDesk’s sister company, Genesis. Genesis is a crypto lender which was owned by DCG. It hired advisors for a potential bankruptcy filing after freezing its withdrawals and loan origination. Genesis was also the subject of a Securities and Exchange Commission charge along with the crypto exchange Gemini.
The CEO Kevin Worth said that Lazard will help CoinDesk to explore different options in order to attract growth capital to the business of CoinDesk business, as this may include a partial or full sale.