(Bloomberg) — Charles Hoskinson, co-founder of the Cardano blockchain, said that he is considering buying crypto news service CoinDesk to revamp it into a mix of a news and community site.
(Bloomberg) — Charles Hoskinson, co-founder of the Cardano blockchain, said that he is considering buying crypto news service CoinDesk to revamp it into a mix of a news and community site.
CoinDesk said Wednesday that it engaged Lazard as a financial adviser to explore options including a partial or full sale. The site is owned by Digital Currency Group, a conglomerate whose lending subsidiary Genesis Global Capital is expected to file for bankruptcy soon.
Hoskinson, who is also one of the co-founders of Ethereum, said on a video posted on Twitter that he heard the site is for sale for about $200 million, but said he hadn’t seen CoinDesk’s financials.
“At $200 million, I believe it’s a bit overpriced,” he said. “I could afford it if I really wanted to.”
CoinDesk, which also runs a popular industry conference, didn’t immediately return a request for comment.
Cardano’s cryptocurrency is down about 76% in the past year. Some other major blockchains are growing faster than Cardano: Its number of monthly active developers increased 5% in the year ended last December, according to data from Electric Capital. Solana’s rose 74%. Cardano has 30 active dapps, such as games, on its network, according to tracker DappRadar. Ethereum, by contrast, has nearly 4,000.
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