• Charles Hoskinson, co-founder of Cardano, is considering acquiring CoinDesk, the media wing of Digital Currency Group.
• Hoskinson believes that virtue of journalism needs to be rehabilitated on cryptocurrencies and blockchain.
• CoinDesk has employed Lazard Ltd as a financial advisor to investigate options for a sale, according to the Wall Street Journal.
Charles Hoskinson, the co-founder of Cardano, is looking into the possibility of acquiring CoinDesk, the media wing of the now-struggling Digital Currency Group. Hoskinson believes that the virtue of journalism needs to be rehabilitated on cryptocurrencies and blockchain, and that the purchase of CoinDesk is the perfect opportunity to do just that.
Hoskinson made the announcement during a Youtube live stream in the United States. Cardano’s ADA cryptocurrency is currently one of the top ten assets, according to CoinMarketCap rankings, with a market capitalization of approximately $11.7 billion. Hoskinson predicted that the purchase would cost him around two hundred million USD and that he will examine the financial details before taking concrete action.
CoinDesk, on the other hand, is also contemplating the chances of a sale. As such, the organization has employed Lazard Ltd as a financial advisor to investigate options for a sale, according to the Wall Street Journal. The company is reportedly looking for potential buyers and has already received interest from venture capitalists and other strategic investors.
The acquisition of CoinDesk could be a major move for Cardano, as it would give the company greater control over the media coverage of cryptocurrency and blockchain technology. CoinDesk has a long-standing reputation for providing reliable and accurate information about the industry, and Hoskinson believes that the acquisition would allow Cardano to have a greater influence over the media coverage of crypto and blockchain.
Ultimately, the purchase of CoinDesk would be an important step for Cardano, and could potentially have a significant impact on the future of the cryptocurrency industry. It remains to be seen if Hoskinson will go through with the purchase, but it is clear that he is serious about the proposition and is considering all of the financial details before making a final decision.