CoinDesk moves to New York after being acquired by DCG

News and Analysis

A renowned publication CoinDesk has announced today it has completed the process of acquisition by Barry Silbert’s Digital Currency Group.

“We are excited to announce that CoinDesk has been acquired by Digital Currency Group (DCG), a leader in the bitcoin and blockchain industry and one of CoinDesk’s earliest investors and supporters,” reads the press release.

DCG’s Barry Silbert announced the acquisition:

The price remains undisclosed, however Techcrunch’s unnamed source reports $500-600k.

“DCG’s resources and vision will enable the CoinDesk team to keep pace with those growing needs and continue delivering the top-quality journalism our readers have come to expect,” the publication wrote in the announcement released today.

As company’s press release states:

“The editorial and business teams at CoinDesk will merge with DCG’s new events platform, doubling its size and forming a new New York-based subsidiary focused on providing news coverage, research, and events.”

According to information on DCG’s site, the group will maintain CoinDesk’s editorial independence.

CoinDesk has also announced Consensus 2016 annual conference on digital currencies and blockchain tech to be held in New York in May.

Digital Currency Group is among the largest venture investment companies in cryptocurrency-related space. It was founded in October 2015 with investments from a number of known companies like MasterCard and Canadian bank CIBC. DCG’s investment portfolio already includes Genesis Global Trading and Grayscale Investments Trading.

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