Digital asset exchange Bullish, led by former New York Stock Exchange (NYSE) President Tom Farley, has acquired cryptocurrency-focused media company CoinDesk, a Reuters news report said. 1The deal, which was announced on November 20, 2023, involves an undisclosed amount. CoinDesk, established in 2013, is a widely recognized media outlet in the crypto space, known for its detailed coverage of Crypto markets, technology, and regulations.
Bullish, however, is a relatively new player in the market since its launch in 2021, but gained traction with its leadership team, including Farley and other former Wall Street executives.
This acquisition is seen as a significant move for Bullish, providing them with a platform to reach potential customers and strengthen their position in the crypto space. For CoinDesk, it offers an opportunity to expand its reach and improve its content with access to Bullish’s resources and expertise.
The transaction reflects a growing maturity in the crypto industry as companies consolidate in response to the increasing mainstream acceptance of cryptocurrencies. Bullish’s acquisition of CoinDesk is a positive development for the crypto industry, indicating a rising demand for reliable crypto news. It also suggests that crypto companies are becoming more sophisticated and willing to invest in long-term growth.
- Reuters: https://www.reuters.com/markets/deals/crypto-exchange-bullish-buys-news-website-coindesk-2023-11-20/ [↩]
