Major business media outlets revealed in early 2023 that the Digital Currency Group had plans to sell CoinDesk, a popular online resource focused on reporting news and events in the cryptocurrency and blockchain industries.
Initially, Binance was considering purchasing CoinDesk, but this week it was reported that the portal will instead be acquired by another cryptocurrency platform, Bullish.
The editorial team will remain as an independent subsidiary under the control of Bullish.
The team of journalists and analysts will be led by Matt Murray, former editor-in-chief of the prestigious Wall Street Journal, although the exact composition of the team has not yet been disclosed.
The administration of Bullish has not commented on the news and has not revealed any details about the acquisition.
CoinDesk reportedly generates annual revenue of $50 million and was acquired by the Digital Currency Group for $600,000 in 2016, solidifying its position as a leader in the industry market.