CoinDesk, the largest cryptocurrency publication, has laid off 45% of its editorial staff

The reason for the staff reduction was plans to sell a stake in the company that owns the media portal

CoinDesk, a media publication about cryptocurrency, has laid off 45% of its editorial staff as its owner - Digital Currency Group (DCG) of entrepreneur Barry Silbert - plans to sell a stake in its capital to attract strategic investors, The Block reports citing sources familiar with the situation.

CoinDesk is a portal specializing in news about cryptocurrencies. Launched in May 2013, it was one of the first sites on such topics. DCG acquired CoinDesk for $500 thousand in 2016.

In total, the publication fired 20 people, it was announced on August 14, 2023, specified in the publication with reference to the data of the memo.

In January, the first bidders for the purchase of CoinDesk appeared. Chinese publication MarsBit and Cardano founder Charles Hoskinson expressed interest in acquiring the media resource.