Digital Currency Group acquires Coindesk

CoinDesk, the bitcoin and blockchain industry’s leading independent media platform, has been acquired by Digital Currency Group, Inc. (DCG), the industry’s most active investor and business incubator. The editorial and business teams at CoinDesk will merge with DCG’s newly launched events platform, doubling its size and forming a new New York-based subsidiary focused on the curation of reliable news coverage, in-depth research, and high-quality events. In addition, CoinDesk has unveiled its plans to produce Consensus 2016, its second annual blockchain technology conference, which will be hosted at the New York Marriott Marquis, May 2-4, 2016.

A source close to CoinDesk told TechCrunch the price of the deal was around $500-600k.

CoinDesk is the newest addition to the DCG group of companies, which includes a global investment portfolio of leading bitcoin and blockchain ventures, Genesis Global Trading, an institutional-focused digital currency trading desk, and Grayscale Investments, an asset manager that manages the Bitcoin Investment Trust (Symbol: GBTC).

"We are excited to join the DCG family of companies,” said CoinDesk CEO, Jeremy Bonney. “As the information needs of the blockchain ecosystem grow, CoinDesk will gain the resources and colleagues it needs to better serve readers with the high-quality, independent journalism readers have come to expect.”

CoinDesk has consistently helped bridge the gap between the entrepreneurs and technologists building the foundation of the blockchain industry and the institutions, investors, and policy makers whose engagement is critical to its long-term success. The company is best known for its balanced coverage of blockchain’s most relevant daily news, its commonly cited Bitcoin Price Index and data tools, and its tutorials and research products, including the quarterly “State of Bitcoin” report.

In addition, CoinDesk collaborated with Citi Ventures to produce last year’s largest blockchain conference, Consensus 2015. The executive-studded event, which was hosted in New York City this past September, attracted over 600 attendees, including many from some of Wall Street’s largest institutions.

Barry Silbert, Founder and CEO of Digital Currency Group added, "It has been impressive to watch CoinDesk's evolution over the past two and a half years, and we are committed to investing in new products and people that will further enhance the CoinDesk and Consensus brands.”

“CoinDesk’s reputation as the industry’s leading content platform makes it a key strategic asset for DCG and its global portfolio of blockchain investments,” said Ryan Selkis, DCG's Director of Growth, who will help lead the new subsidiary, which will operate independently from DCG.

CoinDesk’s second annual Consensus conference will be produced in collaboration with DCG and Coin Center, the industry’s leading research and advocacy center focused on blockchain public policy issues. The multi-day event is focused on how startups and institutions alike can create real-world applications in markets like payments, banking, device security, identity, and smart contracts. CoinDesk expects professionals from leading industry startups, investors, financial services institutions, and academic and policy groups to attend this year’s event. Confirmed industry speakers include Jeremy Allaire & Sean Neville (Circle), Blythe Masters (Digital Asset Holdings), Chris Larsen (Ripple), Stephen Pair (BitPay), Chad Cascarilla (itBit), Elizabeth Rossiello (BitPesa), Greg Schvey (TradeBlock), Bill Barhydt (Abra), Marwan Forzley (Align Commerce), Brian Hoffman (OB1), and Eric Jennings (Filament).