A group of investors is in the final stage of negotiations on the purchase of the crypto-oriented publication CoinDesk with a valuation of $125 million, The Wall Street Journal reports, citing informed sources.
The amount of investment is not disclosed.
The syndicate is headed by Matthew Rozak of Tally Capital and Peter Wessenes of Capital 6.
In January, WSJ reported that parent Digital Currency Group (DCG) was considering selling part or 100% of CoinDesk, which became part of the holding company in 2016 after buying it for $500,000-600,000.
The top bid was reportedly $200 million, with the media outlet generating $50 million in revenue in 2022.
The potential deal could alleviate DCG’s tenuous position. On May 22, the holding company defaulted on a $630 million payment in compensation to Gemini Earn users.