CoinDesk, one of the most popular crypto news websites in the world, is looking for buyers. This reports the Wall Street Journal.
The business newspaper’s report shows that the Digital Currency Group, the parent company of Coindesk, has hired the investment bank Lazard to find buyers. According to WSJ, either a full or partial sale is an option for DCG. The Wall Street Journal also reported that bids of more than $ 200 million have already been made.
DCG in trouble
As many of you may know, the Digital Currency Group has been in trouble since the fall of crypto exchange FTX. So it is not surprising that they try to sell some of the companies they manage. The company tries to save money in every way. For example, it was announced last week that shareholders of DCG will not receive a profit distribution this year. Subsidiary and trading house Genesis Global is also struggling with large debts.
Today, Newsbit released a news report showing that DCG still has not settled with creditors Gemini and Bitvavo who are jointly to receive more than $1.1 billion from Genesis. There are even rumors about a possible pre-negotiated Chapter 11 procedure.
It is not yet known whether CoinDesk will be bought by one or more parties. Fans of the news platform will be over anticipating what the future brings.