Input Output Global’s Charles Hoskinson has expressed intention to buy the cryptocurrency media company, CoinDesk news service. A prominent cryptocurrency news service, CoinDesk offers cryptocurrency and blockchain news. CoinDesk makes available cutting-edge market data, research, and educational resources content.
Breaking the news, Charles Hoskinson tweeted:
Buying Coindesk https://t.co/YNJYjKhIlx
— Charles Hoskinson (@IOHK_Charles) January 19, 2023
Charles Hoskinson states,
My interest on the media side is more broad… I would like to figure out how to get to journalistic integrity again.
Founder of the Cardano blockchain, Charles Hoskinson, aims to contribute towards building “a successful crypto-centric media entity.” Hoskinson wants to revamp the news website and also build it around the community.
Eleanor Terrett, Journalist & Producer, Fox Business, tweeted:
"My interest on the media side is more broad… I would like to figure out how to get to journalistic integrity again" – @IOHK_Charles discusses why he's interested in buying @CoinDesk and shares his ideas for a successful crypto-centric media entity. https://t.co/ZwPojdktAS
— Eleanor Terrett (@EleanorTerrett) January 19, 2023
A couple of ideas, Terrett tweets Hoskinson is reported to have are:
Some of those ideas include stories being NFTs, community interaction, financial incentives for fact-checking and follow-up stories and integrations with other platforms.
— Eleanor Terrett (@EleanorTerrett) January 19, 2023
He says the $200M valuation is "a bit overpriced" for what it currently offers.
In 2020, Hoskinson developed the IOHK Media division. The CoinDesk news service’s incumbent owner is the Digital Currency Group (DCG). DCG, though, is under scrutiny given its subsidiary Genesis’ bankruptcy filing. Charles states to have learnt that CoinDesk news site was up for sale for $200 million (a bit costly, Charles reportedly believes).
DCG acquired Coindesk reportedly for around $500,000 in January 2016. Hoskinson has reportedly also stated that he has not been treated fairly by the media in the past, courtesy of select media outlets.
If Hoskinson buys CoinDesk, the Cardano ecosystem and the blockchain space would get a big boost. Given the strong reputation of CoinDesk and its audience, Hoskinson’s commitment to offer blockchain news without bias would benefit the blockchain and web3 community.
An official confirmation, though, is yet to be received from the parties in question.
