The Bullish trading platform, run by the former president of the New York Stock Exchange, acquired 100% of the legal entity of the influential cryptocurrency publication CoinDesk, closing the deal entirely in cash.
New owner Tom Farley has promised that CoinDesk will operate as an independent subsidiary of the cryptocurrency exchange.. The editorial committee will be chaired by former Wall Street Journal editor-in-chief Matt Murray, and the Murray CoinDesk team will remain unchanged..
Bullish declined to comment on the terms of the deal.. According to reports, CoinDesk generates annual revenue of $50 million, which is equal to the amount Tom Farley spent to acquire. Recall that in 2016, CoinDesk cost the previous owner, Digital Currency Group, $500,000.
Bullish's acquisition of CoinDesk was welcomed by influential crypto investors including Peter Thiel and Louis Bacon.
Earlier, former President of the New York Stock Exchange (NYSE) Tom Farley was included in the list of three contenders who intend to compete for the purchase of assets of the bankrupt cryptocurrency exchange FTX. The day before, the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, said that the regulator would not object to the reboot of the FTX crypto exchange under the leadership of Tom Farley, subject to compliance with all regulations and legislative rules.