Bitcoin firm buys industry publication CoinDesk

Reuters News
Posted: Jan 13, 2016 11:37 AM

NEW YORK (Reuters) - Digital Currency Group, a holding firm focused on investing and developing businesses that deal in bitcoin and other cryptocurrencies, has acquired the industry publication CoinDesk, the company said in a statement on Wednesday.

The editorial and business teams at CoinDesk will merge with DCG's new events platform, doubling its size and forming a new New York-based subsidiary focused on providing news coverage, research, and events.

DCG's founder and chief executive officer, Barry Silbert, declined to disclose the acquisition price for CoinDesk.

CoinDesk is the newest addition to the DCG group of companies, which includes a global investment portfolio of bitcoin and blockchain ventures, Genesis Global Trading, an institutional-focused digital currency trading desk, and Grayscale Investments, an asset manager that manages the Bitcoin Investment Trust.

CoinDesk has been sponsoring and managing the Consensus conferences on digital currencies and the blockchain, bitcoin's underlying technology.

"It has been impressive to watch CoinDesk's evolution over the past 2-1/2 years and we are committed to investing in new products and people that will further enhance the CoinDesk and Consensus brands," Silbert said.

In a separate statement, CoinDesk announced its second annual blockchain technology conference in May to be held in New York.

Silbert said CoinDesk will be run by DCG's director of growth, Ryan Selkis, and will operate independently from DCG. CoinDesk's current CEO is Jeremy Bonney.

CoinDesk has created the Bitcoin Price Index and puts out the quarterly "State of Bitcoin" report.

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Bill Trott)