Former NYSE President's Firm Acquires CoinDesk

The cryptocurrency and business sectors are witnessing a noteworthy acquisition as Tom Farley, the former president of the New York Stock Exchange, takes a significant step in the crypto media landscape. Through his crypto exchange, Bullish, Farley has sealed an all-cash acquisition deal for the prominent crypto media company, CoinDesk. The exact financial details remain confidential.

Background of Acquisition

CoinDesk has been under the umbrella of Digital Currency Group since its 2016 purchase for $500,000. The media company has gained prominence for its influential reporting in the crypto industry, including its role in breaking news about Sam Bankman-Fried’s crypto empire that impacted the market significantly.

Continuity and Editorial Independence

Following the acquisition, CoinDesk's management is set to remain consistent, with Kevin Worth continuing as CEO. Bullish intends to maintain CoinDesk as an independent subsidiary to foster journalistic integrity. To this end, CoinDesk is establishing an editorial committee with the intention of upholding its journalistic freedom, a move welcomed by many concerned about the potential conflicts of interest. Matt Murray, a former editor in chief of The Wall Street Journal, will chair this newly formed committee.

acquisition, crypto, media