Bullish, the digital asset exchange steered by Tom Farley, former President of the New York Stock Exchange, has successfully completed its acquisition of CoinDesk, previously owned by the Digital Currency Group (DCG).
The purchase, conducted entirely in cash, remains tight-lipped about its financial details.
Founded in 2013, CoinDesk was later acquired by the Digital Currency Group in 2016. As per the newly formed agreement, CoinDesk will maintain its independence, operating as a separate entity within Bullish’s structure.
The existing management team, led by CEO Kevin Worth, will continue to steer CoinDesk under Bullish’s umbrella.
To ensure the preservation of CoinDesk’s integrity and independent reporting within the cryptocurrency sector, Bullish has initiated the establishment of an editorial committee for CoinDesk, which will be chaired by Matt Murray, former Editor-in-Chief of the Wall Street Journal.
Despite being a smaller player in the crypto exchange market, Bullish has showcased its ambitious vision with this acquisition.
The Gibraltar Financial Services Commission-regulated company is yet to make its services available in the United States.
This strategic acquisition could serve as a launchpad for Bullish’s expansion plans, extending its reach and operations across the global crypto market.
Bullish anticipates using this acquisition as a springboard to penetrate new markets, particularly focusing on Asia, where it already has footholds in Hong Kong and Singapore.
This strategic move is anticipated to create new avenues for CoinDesk’s media and events business, harnessing emerging opportunities within the worldwide crypto ecosystem.
