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Investor group nears $125 million deal for CoinDesk - WSJ

Published 07/20/2023, 12:58 PM
Updated 07/20/2023, 01:00 PM
© Reuters. FILE PHOTO: Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration//File Photo

(Reuters) - A group led by blockchain investors Matthew Roszak and Peter Vessenes are nearing a $125 million deal for cryptocurrency-focused media firm CoinDesk, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

CoinDesk is currently owned by crypto conglomerate Digital Currency Group (DCG), which bought it in 2016. Any sale would likely bolster DCG's financial strength as the company looks to pull its Genesis unit out of bankruptcy.

© Reuters. FILE PHOTO: Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration//File Photo

DCG was also sued by Gemini, the largest creditor of Genesis, earlier this month, after the companies failed to agree to a restructuring deal for the bankrupt unit.

CoinDesk, Roszak's investment firm Tally Capital and Vessenes's family office did not immediately respond to Reuters requests for comment.

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