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CEO of Binance Rejects Acquisition of CoinDesk

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Binance CEO Changpeng Zhao has claimed that the company will not do so buy encryption media CoinDesk by CoinMarketCap. said the purchase won’t go forward because of various factors, regardless of $75 million price tag.

According to a report by Blockworks on March 13, CoinDesk is the acquisition target for Binance Capital Management (BCM). The report details that BCM has been exploring option Through its Delaware subsidiary, using CoinMarketCap for acquisition bridge.

John Rice writer behind Report and member of Blueworks team and also He explained that among the sources was a close informant within the Binance subsidiary.

Also, another source clarified Binance’s point of He passes with blind confidence using CoinMarketCap.

However, contrary to claims that purchase He was on Hold, CZ confirmed that Binance would not pass with This is amazing. according to media tweet By CZ, CoinDesk, and Binance it will not be a file great suitable. As such, they do not intend to buy the media a company.

Moreover, the purchase He will not have height chance of Completion due to three main factors: It can involve significant oversight operations, it is costly over time and withdrawal on he won.

CoinDesk still on the market

CoinDesk is among the leaders in Report encryption news And events. CoinDesk has an estimated net worth of $300 million having grown exponentially since then purchase by DCG in 2016 for $500,000.

However, it was CoinDesk on the market Since January it was in acquisition talks.

In January, Hoskinson, the founder of Cardano, explained his intent buy CoinDesk on YouTube video.

binance announced late last year that it plans to target a billion dollars recovery box for purchase Distressed cryptocurrency assets. CoinDesk was among the intended purchases, but the last analysis shows challenges that give minimal probability of complete acquisition by BCM. Still Binance plans To top the cryptocurrency market He has even ventured into cryptocurrency mining.

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