In a recent tweet, Binance CEO Changpeng ‘CZ’ Zhao has denied reports of the crypto exchange’s interest in acquiring CoinDesk.
According to Blockwork, Binance was trying to acquire the leading crypto media outlet through its CoinMarketCap subsidiary.
However, Zhao has dismissed these reports, stating that CoinDesk does not fit within Binance’s “geographic coverage.”
CoinDesk is owned by Digital Currency Group (DCG), the parent company of bankrupt Genesis and crypto investment firm Grayscale.
DCG was reportedly looking to sell CoinDesk due to liquidity issues faced by its bankrupt subsidiary. CoinDesk CEO Kevin Worth confirmed the company was shopping for a buyer earlier this year.
Charles Hoskinson, the founder of Cardano (ADA), expressed interest in purchasing the media firm. However, he noted that CoinDesk was overpriced at its $200 million valuation.
Interestingly, this is not the first time Binance has been linked to media investments. Last year, the crypto exchange made a $200 million investment in Forbes, a well-known legacy media outlet.
