It has been claimed that Binance Capital Management will buy news site CoinDesk.
After the claim that Binance would buy CoinDesk through the parent company of CoinMarketCap, there was activity in the crypto money industry. At the moment, there has been no development in the purchase process.
Binance Capital Management’s CoinDesk Acquisition Pending
CoinDesk, a leading crypto news company and a core component of the Digital Currency Group (DCG), has become an acquisition target for Binance Capital Management (BCM) in recent weeks, according to sources with direct knowledge of the matter.
Registered in the British Virgin Islands, Binance Capital Management (BCM) is seeking to acquire CoinDesk through a subsidiary of CoinMarketCap, a Delaware company. It is reported that purchase negotiations are currently on hold.
What is CoinMarketCapThe potential deal is allegedly worth close to $75 million. According to a source familiar with the matter, initial estimates of CoinDesk’s market cap are as high as $300 million, though the actual purchase price is expected to be significantly lower.
Barry Silbert’s DCG acquired the company for approximately $500,000 in 2016, nearly three years after its launch.
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