CZ: Binance Won’t Add DCG’s CoinDesk to Its Media Empire
- Binance CEO said they wouldnât add CoinDesk to their media properties.
- CoinDeskâs struggling owner is looking to find a buyer fast.
- Binance has major holdings in digital and traditional media.
Crypto giant Binance slackened its grasp on crypto media, at least for now. Talks to acquire crypto news site CoinDesk fell apart, according to reports confirmed by Binance CEO.
On Tuesday, Binance CEO Changpeng Zhao (CZ) clarified reports about Binance Capital Managementâs talks with CoinDesk. According to CZ, Binance walked away from the deal, as CoinDesk was not fit for the exchange’s geographic coverage.
https://twitter.com/cz_binance/status/1635507910456356867
CoinDesk CEO Kevin Worth confirmed in January that the outlet was for sale. Its owner, Digital Currency Group (DCG), which owned bankrupt lenders Genesis, is looking to raise capital quickly.
Early estimates suggested that…
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