Charles Hoskinson, the founder of Cardano, has provided an update on talks regarding his potential acquisition of Coindesk, the most crucial cryptocurrency information site.
During his most recent ask-me-anything session on YouTube, the cryptocurrency tycoon revealed that he had signed a non-disclosure agreement (NDA). As a result, he was unable to reveal specifics about where the discussions are currently at.
Nonetheless, he stated that the much-discussed deal was unlikely to occur. “I don’t think I’m going to buy it, but we’ll see where that goes,” Cardano’s founder stated.
At the same time, Hoskinson denied rumors that he was planning to buy American media behemoth CNN. He admitted that he is uninterested in traditional broadcast media.
The crypto tycoon’s decision to buy Coindesk stems from his broader interest in bringing more and more innovation & journalistic integrity to the crypto media scene.
Hoskinson advocated converting various information items into non-fungible tokens so people could collaborate with them, arguing that it would be “really cool” if people viewed each story as a living object.
It was reported that Coindesk is both elevating funds or trying to get acquired after its mother or father firm, Barry Silbert’s Digital Foreign money Group, was hit by the crypto disaster. Genesis, one of DCG’s many subsidiaries, is under investigation for filing for bankruptcy after suspending customer withdrawals in mid-November.
The potential acquisition value of Coindesk has been estimated to be around 200 million dollars.
The acquisition of Coindesk would be a significant move in the cryptocurrency industry and would undoubtedly shake up the media landscape, but it appears highly unlikely.