Crypto News Outlet Marsbit Signals Interest in CoinDesk

Following the liquidity crisis suffered by CoinDesk’s parent company, Digital Currency Group (DCG), the crypto-focused publication outlet has been put up for sale. In a Tweet, Marsbit, a Chinese crypto news media outlet announced its interest in CoinDesk and is prepared to organize funds from well-known sources for the purchase.

Wang Feng, CEO of Marsbit is positive about what the future holds for the encryption industry and as such is willing to do anything within his capacity to get deeply involved in the basic facilities and system that will benefit his community, be it trading or media. 

With regard to this, the Binance-backed news publication outlet has called interested investment funds and industries to support as well as drop useful information.

CoinDesk Considers Sale to Fund Growth

Recall that DCG put up CoinDesk for sale and is still battling with another of its subsidiary Genesis Global, a renowned crypto brokerage company that filed for bankruptcy on January 20. The bankrupt firm owes its top 50 creditors over $3.5 billion according to its bankruptcy filing.

According to a report by the Wall Street Journal, the crypto conglomerate has gotten several offers of over $200 million for the purchase of its media outlet. The fund represents a 39,900% return on investment after it was initially acquired for about $500,000 to $600,000 in 2016.

As such, CoinDesk contracted Lazard, a financial advisory firm to assist weigh the several options it has, be it full or partial sales as it sources funds to help its future growth.

An American entrepreneur Charles Hoskinson in a Youtube Video also showed his interest in the news publication outlet saying he wants to get involved in Journalistic integrity. The Cardano founder also feels the asking price of $200 million is rather too small to purchase the news outlet.

Founded in May 2013, CoinDesk is known to provide millions of consumers interested in cryptocurrency assets and blockchain technology with news and insights, podcasts, and research reports. The media platform is wholly owned by DCG whose mission is to majorly accelerate the development of a better financial ecosystem.