- The media house has retained the services of the Lazard Group as financial consultants.
- Digital Currency Group (DCG) has been afflicted by the FTX collapse’s contagion.
Another media outlet, CoinDesk, has run into problems only hours after it was reported that DCG’s cryptocurrency trading arm, Genesis, intends to file for bankruptcy. DCG’s own media outlet has retained the services of the Lazard Group. As financial consultants in preparation for a sale.
CoinDesk would be leaving Barry Silbert’s Digital Currency Group if this happens. The employment of former Lazard bankers by cryptocurrency news outlet CoinDesk was originally reported by the Wall Street Journal.
May Include a Partial or Full Sale
However, CoinDesk and its parent company, Digital Currency Group (DCG) have been afflicted by the FTX collapse’s contagion. The cryptocurrency exchange Gemini is in further danger after DCG’s subsidiary and crypto lender Genesis filed for bankruptcy last month.
Additionally, CEO Kevin Worth said in an email:
“Over the last few months, we have received numerous inbound indications of interest in CoinDesk”. He further added that Lizard will help CoinDesk “explore various options to attract growth capital to the CoinDesk business, which may include a partial or full sale.”
Several crypto enterprises might be impacted this year as a result of the market ripples. Caused by the collapse of the cryptocurrency exchange FTX, as several market experts have warned.
Even though DCG has been telling the public that there is no cause for concern at Grayscale, investors should nevertheless keep a close watch on what is going on. The amazing comeback that Bitcoin and the cryptocurrency market as a whole have demonstrated to start the year 2023 has provided some pleasant reassurance to worried cryptocurrency investors.
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