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CoinDesk, the bitcoin and blockchain industry’s leading independent media platform, has been acquired by Digital Currency Group, Inc. (DCG), the industry’s most active investor and business incubator.
The editorial and business teams at CoinDesk will merge with DCG’s newly launched events platform, doubling its size and forming a new New York-based subsidiary. The combined business will adopt the CoinDesk brand and focus on the curation of reliable news coverage, in-depth research, and high-quality events.
CoinDesk is the newest addition to the DCG group of companies, which includes a global investment portfolio of leading bitcoin and blockchain ventures, Genesis Global Trading, an institutional-focused digital currency trading desk, and Grayscale Investments, an asset manager that manages the Bitcoin Investment Trust (Symbol: GBTC).
“We are excited to join the DCG family of companies,” said CoinDesk CEO, Jeremy Bonney. “As the information needs of the blockchain ecosystem grow, CoinDesk will gain the resources and colleagues it needs to better serve readers with the high-quality, independent journalism readers have come to expect.”
In addition, the CoinDesk team unveiled today its plans to produce Consensus 2016, its second annual blockchain technology conference, which will be hosted at the New York Marriott Marquis, May 2-4, 2016.
Building a New Subsidiary
When our leadership team at DCG was presented with the opportunity to take a more meaningful stake in the CoinDesk business, we immediately recognized a merger would present valuable opportunities for both teams. CoinDesk has consistently helped bridge the gap between the entrepreneurs and technologists building the foundation of the blockchain industry and the institutions, investors, and policy makers whose engagement is critical to the industry’s long-term success. The company is best known for its balanced coverage of blockchain’s most relevant daily news, its commonly cited Bitcoin Price Index and data tools, and its tutorials and research products, including the quarterly “State of Bitcoin” report.
“CoinDesk’s reputation as the industry’s leading content platform makes it a key strategic asset for DCG and our global portfolio of blockchain investments,” said Ryan Selkis, DCG’s Director of Growth, who will help lead the new subsidiary which will operate independently from DCG.
Launch of Consensus 2016
Last September, CoinDesk collaborated with Citi Ventures to produce the 2015’s largest blockchain conference, Consensus 2015. The executive-studded event, which was hosted in New York City, attracted over 600 attendees, including leaders from many of Wall Street’s largest institutions. Around this same time, DCG began planning its own May 2016 “Blockchain Technology Conference” with the support of a seasoned events team that had previously helped grow other valuable conference brands, such as Money2020. That team has now joined forces with the editorial team that produced Consensus 2015 in order to pick up where the first event left off.
Consensus 2016 will be produced in collaboration with Coin Center, the industry’s leading research and advocacy center focused on blockchain public policy issues. The multi-day event is focused on how startups and institutions alike can create real-world applications in markets like payments, banking, device security, identity, and smart contracts. CoinDesk expects professionals from leading industry startups, investors, financial services institutions, and academic and policy groups to attend this year’s event. Confirmed industry speakers include Jeremy Allaire & Sean Neville (Circle), Stephen Pair (BitPay), Chris Larsen (Ripple Labs), Elizabeth Rossiello (BitPesa), Greg Schvey (TradeBlock), Bill Barhydt (Abra), Marwan Forzley (Align Commerce), Brian Hoffman (OB1), and Eric Jennings (Filament)
Early Adopter registration for Consensus 2016 is now available through January 31st at a 50% discount to the standard rate. Join us!
The Road Ahead
We wanted to take this opportunity to outline the fantastic opportunities this new business venture presents for Digital Currency Group, our family of companies and investments, and the broader bitcoin and blockchain ecosystem as a whole.
We believe that CoinDesk has been the best and most reliable source for industry news, research and tutorials, bitcoin price data, and high-quality events – ever since bitcoin traded in the double digits. The site’s ongoing health means that the balanced and informed analysis we’ve come to expect will continue uninterrupted and uninhibited. DCG is committed to maintaining CoinDesk’s editorial independence. As such, the CoinDesk team will be moving to separate offices following the acquisition.
As we integrate CoinDesk’s editorial and research team with our events team, we see many opportunities to enhance and expand upon the products and services the new CoinDesk business can provide to a wide range of stakeholders. In the future, we will be experimenting with syndication relationships and new products that encourage regular, in-depth opinion and analysis pieces from executives and technical thought leaders throughout the broader blockchain community. These new products will also help companies disseminate their perspectives to a wider audience, and enable CoinDesk to continue to serve as the bridge between the growing bitcoin and blockchain ecosystem and the broader innovation community.
Growth and Support
Lastly, and most importantly, DCG’s backing will provide CoinDesk with financial strength, strategic flexibility, and an invaluable relationship network that extends far beyond the bitcoin industry itself. This will help the CoinDesk team enhance its research and data analytics products.
Barry Silbert, Founder and CEO of Digital Currency Group says “It has been impressive to watch CoinDesk’s evolution over the past two and a half years, and we are committed to investing in new products and people that will further enhance the CoinDesk and Consensus brands.”
Our team at DCG is excited to work with the talented team at CoinDesk to enhance and grow a platform that has already helped educate so many about bitcoin and blockchain technology.
CoinDesk is the world leader in news and information on digital currencies such as bitcoin, and its underlying technology – the blockchain. We cover news and analysis on the trends, price movements, technologies, companies, and people in the bitcoin and blockchain world. Learn more at coindesk.com or follow @CoinDesk for the latest industry news.
Consensus is CoinDesk’s annual summit on digital currencies and blockchain tech. Digital currencies and blockchain technology cut across multiple and diverse sectors, and have the potential to impact everyone from Wall Street professionals to the world’s unbanked. Consensus brings together experts and leaders from across these sectors to debate real-world problems and find the solutions that cutting-edge digital currencies and blockchain tech might offer. Register at consensus2016.com or join the conversation at #consensus2016 for updates on the event.
Digital Currency Group builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. Based in New York City, DCG has been an active seed investor in the digital currency industry with over 60 investments in nearly 20 countries. Learn more at dcg.co or follow @DCGCo for updates on DCG and its dynamic community.