Cryptocurrency exchange Binance is reportedly seeking an option to acquires crypto news outlet CoinDesk as the website's parent company Digital Currency Group is struggling with plunging.
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According to a report from Blockworks, the exchange wanted to conduct the acquisition through its venture arm Binance Capital Management registered in the British Virgin Islands.
However, sources close to the matter said the deal is now on hold without elaborating on the matter. The potential price of the deal is also undisclosed although it was earlier reported that to be around $75 million.
Recall that Digital Currency Group bought the publication for $500,000-600,000 in 2016. Digital Currency Group announced in early 2023 the closure of its subsidiary HQ Digital, specializing in asset management.
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