Cryptocurrency media and events platform CoinDesk, which owns this news service, Tuesday announced it has purchased TradeBlock, the world’s leading crypto index provider.
With the purchase, CoinDesk said it’s positioned to be the leading source of crypto news, information and data for the rapidly growing sector which has seen a flood of interest and investment from financial companies. In the year just closed, the price of bitcoin, the leading cryptocurrency, rose more than 300%, driven largely by institutional investors. ”We will be crypto investors’ go-to destination for unified media, events, research, pricing and data,” Kevin Worth, CoinDesk CEO, said in a statement.
More than $20 billion of investment products use TradeBlock indexes and billion of dollars in monthly trading volume is quoted against them, CoinDesk said. The biggest user of TradeBlock’s XBX index is Grayscale Bitcoin Trust, the largest publicly traded crypto financial product, the media company said. Grayscale is owned by Digital