Does Cardano Founder Charles Hoskinson have plans for CoinDesk looking for a sale?
The liquidity crunch resulting from the collapse of Three Arrows Capital (3AC) and the bankruptcy of FTX put Digital Currency Group (DCG) in financial distress. With this distress, crypto news site Coindesk, one of the company’s subsidiaries, is now exploring the sell option, and Cardano founder Charles Hoskinson is said to have made an offer.
In the face of billions in debt from crypto platform Genesis Trading and another DCG subsidiary, other entities of the Barry Silbert-owned empire may now have to explore other measures to secure new capital injections in order to remain profitable.
Will Cardano Founder Hoskinson Submit an Offer for CoinDesk?
This is pure speculation and while the founder of Cardano is known to be very vocal about his plans, there is currently no confirmation whether a proposal, if submitted, will be for him, for Input Output Hong Kong, the company responsible for the development of the blockchain, or for the Cardano Foundation. .
Hoskinson will make a big profit if he chooses to run for the news media. It can get a bigger and more accessible platform to correct misinformation about Cardano and also promote the work done by Cardano in the crypto space and worldwide.
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