Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet.
According to the Wall Street Journal, CoinDesk has sought the help of investment bankers from financial advisory firm Lazard, who are helping the firm weigh options including a full or partial sale.
You know, I just realized that Coindesk is for sale. pic.twitter.com/QqmBPOClpu
— Charles Hoskinson (@IOHK_Charles) January 19, 2023
DCG has purportedly received multiple offers exceeding $200 million to buy out the media firm over the last few months, which would result in a phenomenal return on their investment given DCG supposedly acquired the company for just $500,000 in 2016.
Barry Silbert’s DCG appears to be in serious financial strife recently, and announced to shareholders