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No, Binance Does Not Plan to Buy CoinDesk for $75 Million, CZ Says, Here's Why

Tue, 03/14/2023 - 11:35
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Yuri Molchan
CZ dispelled rumors spread by some crypto media about Binance planning to acquire CoinDesk giant
No, Binance Does Not Plan to Buy CoinDesk for $75 Million, CZ Says, Here's Why
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In a recent tweet, CEO and co-founder of major crypto exchange Binance, Changpeng Zhao, widely known as CZ, stated that his company does not plan to buy CoinDesk crypto news giant.

CoinDesk was put on sale after its founder, the Digital Currency Group led by billionaire Barry Silbert, faced liquidity trouble following the bankruptcy of its lending crypto company, Genesis. Silbert's DCG bought CoinDesk back in 2016 for a staggering half a billion USD.

A recently published article in a crypto news outlet stated that Binance Capital Management (BCM) was planning to acquire CoinDesk for $75 million via CoinMarketCap. The latter was acquired by Binance in 2020.

Earlier, U.Today reported that investment bankers were willing to pay as much as $200 million for the popular crypto news company. Some buyers, though, believe that despite the high reputation and influence of CoinDesk, the aforementioned price tag is far too high for it.

Aside from anonymous VC bankers, the founder of the Cardano chain, Charles Hoskinson, also expressed interest in purchasing the crypto news outlet. In January this year, Hoskinson shared in a live stream on YouTube that he was interested in buying it in order to bring back journalistic integrity.

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He complained that, in the past, Cardano and himself were treated pretty unfairly by the media, both mainstream and crypto.

Still, CZ made it clear that he is not interested in acquiring CoinDesk. He said that it could be a good business; however, it does not fit in with the "geographic coverage" of Binance.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at