Cardano CEO Charles Hoskinson publicly announced that he has considered acquiring CoinDesk from DCG (Digital Currency Group).
Despite the interest, Hoskinson said CoinDesk was “overpriced” for its $200 million asking price in a recent livestream.
With the ongoing monetary issues and lawsuits at DCG, multiple DCG-owned assets are up for grabs, including CoinDesk.
Cardano and others consider purchasing CoinDesk from DCG
According to The Wall Street Journal, CoinDesk is on the lookout for a buyer after cracks have started to show at DCG.
DCG is home to Greyscale Investments, Genesis and various other funds and companies that rely on DCG’s upkeep. CoinDesk was acquired by DCG back in 2016 for around $500,000.
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Multiple investors have approached CoinDesk, and buyout proposals ranged from $200 million to $300 million, but $300 million was apparently deemed far too low.
Cardano's Charles Hoskinson stated that acquiring CoinDesk for $200 million was overpriced, but that he would examine other possibilities after reviewing CoinDesk's financials.
Hoskinson is interested in CoinDesk for its potential to be a source of “journalistic integrity” in the crypto industry.
From Hoskinson's recent livestream:
My interest on the media side is actually more broad in that I would actually like to figure out how to get to journalistic integrity again.
Hoskinson also hinted at making CoinDesk a more decentralised organisation.
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