Web: Bitcoin investor buys index operator CoinDesk

January 2016 by: From The Web

Digital Currency Group, a holding firm focused on investing and developing businesses that deal in bitcoin and other cryptocurrencies, has acquired the industry publication CoinDesk, the company said in a statement on Wednesday.

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.

DCG's founder and chief executive officer, Barry Silbert, declined to disclose the acquisition price for CoinDesk. DCG was one of the initial investors in CoinDesk when it started in 2013.

CoinDesk is the first acquisition for DCG, Ryan Selkis, director of growth at DCG, said in a phone interview. Selkis will run the merged media company and the group's events unit.

It joins DCG's other companies, which includes a global investment portfolio of 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.

CoinDesk's headquarters were moved to New York from London, Selkis said. The media outfit currently has 10 employees, plus contributors spread across two offices in London and New York.


Continue Reading: CNBC