Crypto-centred media firm CoinDesk Inc has sought investment banking companies amid a potential sale of its operations, its chief executive said in a statement as quoted by global media.
A Wall Street Journal (WSJ) report revealed that investment bankers from Lazard Ltd have expressed interest along with other unsolicited offers of up to $200 million, people familiar with the matter said.
Digital Currency Group Inc (DCG) owns CoinDesk and acquired the latter for $500,000 in 2016. The sale led to roughly $50 million in earnings in 2022 due to online adverts, index and events, and others, the firm added.
Grayscale Investments, its subsidy firm, is valued at $13.5 billion via its Grayscale Bitcoin Trust. It currently faces significant issues along with Bitcoin (BTC) mining firm Foundry, amid the ongoing FTX collapse.
“Over the last few months, we have received numerous inbound indications of interest in CoinDesk,” company chief executive Kevin Worth said in a statement.
The news comes amid a major shift in the cryptocurrency market, namely after FTX bankruptcy in mid-November due to fraud and funds mismanagement, among other offences.
Further issues surfaced after Genesis Global Trading Inc laid off 30 percent of its employees and faces an impending bankruptcy as early as this week, Bloomberg revealed on Wednesday.
