According to recent reports, cryptocurrency news website CoinDesk is considering being sold as its parent company Digital Currency Group (DCG) wants to improve its financial position.

The Wall Street Journal reports that CoinDesk has requested the assistance of investment bankers from financial advisory firm Lazard. These investment bankers are helping the company weigh its alternatives, which may include a full or partial sale.

You know, I recently noticed that Coindesk is already available for purchase.

Charles Hoskinson, who tweets under the username @IOHK Charles January 19, 2023 In recent months, it has been reported that DCG received multiple offers for the media company exceeding $200 million. If these reports are accurate, this would represent an incredible return on investment for DCG given that DCG reportedly bought the company for just $500,000 in 2016.

It would seem that Barry Silbert’s DCG is experiencing significant financial difficulties of late. On January 17, the company informed its shareholders that it will suspend dividend payments in an attempt to improve the strength of its balance sheet and “preserve liquidity.”

On Jan. 18, Bloomberg reported that another DCG subsidiary, crypto lending firm Genesis Global, intended to file for bankruptcy after revealing that it owed creditors more than $3 billion. This is undoubtedly the main cause contributing to DCG’s current financial situation.

According to the company’s website, DCG’s venture capital portfolio includes around 200 crypto-related startups, some of which include CoinDesk and Genesis.

Asset management company Grayscale Investments, cryptocurrency exchange Luno, and advisory firm Foundry are all other companies owned by DCG.

Some people believe that the article published by CoinDesk in November that revealed the irregularities in Alameda Research’s balance sheet was the first domino that ultimately led to the collapse of cryptocurrency exchange FTX, as well as the liquidity problems that Genesis, his company. parent DCG, and the broader cryptocurrency market it is currently facing.