Cardano (ADA) Founder Provides Update on Coindesk Acquisition Talks

Cardano founder, Charles Hoskinson, has given an update on talks surrounding his potential acquisition of Coindesk, the largest cryptocurrency news website.

During his most recent ask-me-anything (AMA) session on YouTube, the cryptocurrency mogul said that he had signed a non-disclosure agreement (NDA). Therefore, he could not reveal details about where the discussions stand as of now.

However, he did say that the much-talked-about deal was unlikely to take place. “I don’t think I’m going to acquire it, but we’ll see where that process goes,” the Cardano founder noted. 

At the same time, Hoskinson also refuted ludicrous rumors about acquiring American media behemoth CNN. He stated that he has no interest in traditional broadcast media.

The crypto mogul’s decision to potentially acquire Coindesk stems from his broader interest in bringing more innovation and journalistic integrity to the crypto media scene.

Hoskinson suggested turning various news pieces into non-fungible tokens to allow people to interact with them, arguing that it would be “really cool” if people could view each separate story as a living object. 

It was reported that Coindesk is either raising funds or looking to get acquired after its parent company, Barry Silbert’s Digital Currency Group, was hit by the crypto crisis. Genesis, one of the DCG’s subsidiaries, is on track to file for bankruptcy after suspending withdrawals for users in mid-November.

Coindesk’s potential acquisition price has been rumored to hover around a whopping $200 million.

The acquisition of Coindesk by Cardano would be a significant move in the crypto industry and could potentially shake up the media landscape, but it seems like it is very unlikely now.