Sunday, May 19, 2024
Sunday, May 19, 2024
HomePet Industry NewsPet Financial NewsCardano expresses interest in buying CoinDesk from cash-strapped Digital Currency Group

Cardano expresses interest in buying CoinDesk from cash-strapped Digital Currency Group

Date:

Related stories

-Advertisement-spot_img
-- Advertisment --
- Advertisement -

Charles Hoskinson, co-founder of the Cardano blockchain network, said he is considering acquiring CoinDesk, the media arm of the struggling Digital Currency Group, saying journalistic integrity needs to be restored to reporting on cryptocurrencies and blockchain. CoinDesk is reportedly exploring a sale.

See related article: DCG’s crypto lender Genesis files for bankruptcy

Fast facts

  • “My interest on the media side is more broad… I would like to figure out how to get to journalistic integrity again,” Hoskinson said in a YouTube livestream on Thursday in the U.S.

  • Cardano’s ADA cryptocurrency is one of the top 10 tokens, according to CoinMarketCap rankings, with a market capitalization of about US$11.7 billion.

  • Hoskinson said he estimated it would cost US$200 million to purchase CoinDesk and that he will review the financial data before making a decision. CoinDesk has hired Lazard Ltd as financial advisors to explore a sale of the online crypto news company, the Wall Street Journal reported this week.

  • Hoskinson said providing financial incentives to readers and the blockchain community could be a decentralized way of holding crypto media more responsible for accuracy. “Things like veracity bonds or other concepts where, when someone publishes something … they actually put money on the table, and if it turns out the thing that they’ve written isn’t true or inaccurate, they actually can lose the money.”

  • Hoskinson also said that such financial incentives can prevent Cardano’s influence over independent reporting, which will draw readers to actively verify, question and interact with the reporting.

  • Genesis Global Capital, the crypto brokerage arm of Digital Currency Group, filed for bankruptcy on Thursday in New York after the failure of the FTX.com exchange left it saddled with debt.

  • DCG did not immediately respond to Forkast’s written request for comment on CoinDesk’s sale.

See related article: Digital Currency Group receives offers to buy CoinDesk: report

- Advertisement -
Pet News 2Day
Pet News 2Dayhttps://petnews2day.com
About the editor Hey there! I'm proud to be the editor of Pet News 2Day. With a lifetime of experience and a genuine love for animals, I bring a wealth of knowledge and passion to my role. Experience and Expertise Animals have always been a central part of my life. I'm not only the owner of a top-notch dog grooming business in, but I also have a diverse and happy family of my own. We have five adorable dogs, six charming cats, a wise old tortoise, four adorable guinea pigs, two bouncy rabbits, and even a lively flock of chickens. Needless to say, my home is a haven for animal love! Credibility What sets me apart as a credible editor is my hands-on experience and dedication. Through running my grooming business, I've developed a deep understanding of various dog breeds and their needs. I take pride in delivering exceptional grooming services and ensuring each furry client feels comfortable and cared for. Commitment to Animal Welfare But my passion extends beyond my business. Fostering dogs until they find their forever homes is something I'm truly committed to. It's an incredibly rewarding experience, knowing that I'm making a difference in their lives. Additionally, I've volunteered at animal rescue centers across the globe, helping animals in need and gaining a global perspective on animal welfare. Trusted Source I believe that my diverse experiences, from running a successful grooming business to fostering and volunteering, make me a credible editor in the field of pet journalism. I strive to provide accurate and informative content, sharing insights into pet ownership, behavior, and care. My genuine love for animals drives me to be a trusted source for pet-related information, and I'm honored to share my knowledge and passion with readers like you.
-Advertisement-

Latest Articles

-Advertisement-

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!