CoinDesk Acquires CCData and CryptoCompare

CoinDesk, a leading crypto news and research provider, has acquired CCData, a global cryptocurrency market data provider, and its retail arm, CryptoCompare. This acquisition is a big step for CoinDesk as it helps CoinDesk provide more data-driven services. Intriguingly, CoinDesk wants to become a central place for cryptocurrency market data, research, and analysis, and this move will help them do that.

CoinDesk Expands its Data Offerings

CryptoCompare provides real-time data on cryptocurrency prices, trading volumes, and exchange rankings. CoinDesk plans to integrate CryptoCompare’s data capabilities into its offerings to provide more tools for market participants, analysts, and decision-makers. Furthermore, the acquisition will strengthen CoinDesk’s data product portfolio, especially its CoinDesk Indices division.

CCData’s data accuracy and methodology expertise will help CoinDesk improve its indices’ reliability and depth. It will also enable better investment analysis and benchmarking. For CoinDesk, this acquisition is more than expanding its data offerings. It represents an effort to bolster its standing as a go-to resource for anyone interested in cryptocurrency markets. 

CoinDesk Media Platform Considers Sales to Fund Growth

Recall that earlier in 2023, CoinDesk considered either a part or full sale to support its balance sheet. This consideration came shortly after its parent company Digital Currency Group (DCG) suffered a liquidity crisis. The media outlet contracted Lazard, a financial advisory firm to help weigh its options, including partial or full sales as it sourced funds to help its growth.

However, this development became necessary after a difficult phase for the broader crypto ecosystem that saw top players go bankrupt and prices of major tokens hit an all-time low. Not long after, Marsbit, a Chinese crypto news media outlet, announced its interest in Coindesk.

Bullish Finally Acquires CoinDesk

In November 2023, Bullish, a prominent cryptocurrency exchange, finally acquired a 100% stake in CoinDesk. Bullish’s acquisition represents a move to diversify its offerings beyond cryptocurrency trading. By acquiring CoinDesk, Bullish gained access to one of the crypto world’s most trusted media brands.

While the transaction terms were not disclosed, it was confirmed that the acquisition was an all-cash deal. Bullish leveraged the acquisition to fuel CoinDesk’s global expansion, investing in its editorial and research teams and many other benefits. Meanwhile, CoinDesk appointed Matt Murray, former Editor-in-Chief of The Wall Street Journal, as the Chair of its editorial Committee, ensuring journalistic independence.