Binance CEO denies interest in CoinDesk Binance CEO denies interest in CoinDesk
In a March 14 tweet, CZ said Binance is "not buying" CoinDesk because it does not fit its "geographic coverage."
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Updated: Aug. 14, 2023 at 6:20 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Binance CEO Changpeng ‘CZ’ Zhao has denied interest in purchasing the crypto media outlet, CoinDesk.
In a March 14 tweet, Zhao denied Blockwork’s report that his exchange was trying to acquire the media firm through its CoinMarketCap subsidiary.
According to Zhao, Binance is “not buying” CoinDesk because it does not fit its “geographic coverage.”
“Not โon holdโ.ย Not buying.ย It may be a good business. But not a fit in our geographic coverage.โ
CoinDesk is a leading crypto media platform belonging to Digital Currency Group (DCG) — the parent company of bankrupt Genesis and crypto investment firm Grayscale.
Reports had revealed that DCG was looking to cash in on the media firm due to the liquidity issues it faced with its bankrupt subsidiary. As of January, CoinDesk CEO Kevin Worth confirmed that the company was shopping for a buyer.
Cardano (ADA) founder Charles Hoskinson confirmed his interest in acquiring the firm. However, he noted that the firm was overpriced at its $200 million valuation.
Meanwhile, this is not the first time that Binance would be tied to an investment with a media firm. In 2022, the crypto exchange madeย a $200 million investment in legacy media outlet Forbes.
Besides that, the exchange invested around $500 million in Elon Musk’s Twitter purchase.
Mentioned in this article
Cardano 
Binance 
CoinDesk 
Digital Currency Group 
Genesis 
Grayscale Investments 
Changpeng Zhao 
Charles Hoskinson Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
CoinDesk
CoinDesk was founded by Shakil Khan as an integrated platform for media, events, data & indices for the next generation of investing and the future of money.
Digital Currency Group
Digital Currency Group’s mission is to accelerate the development of a better financial system.
Genesis
Genesis is an institutional digital asset markets and a full-service digital currency prime brokerageย providing a single point of access for select qualified individuals and global institutional investors.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.