Jan 18 (Reuters) – Crypto outlet CoinDesk Inc is exploring a full or partial sale of its enterprise and has employed funding financial institution Lazard Ltd (LAZ.N) to guide the method, the media firm’s chief government stated on Wednesday.

The crypto trade goes by way of one in every of its worst phases, with costs of main tokens at two-year lows and a string of bankruptcy filings from top players.

“My aim in hiring Lazard is to discover varied choices to draw progress capital to the CoinDesk enterprise, which can embody a partial or full sale,” CEO Kevin Price instructed Reuters in an announcement.

The event comes amid an trade turmoil, which started with the crash of secure cash TerraUSD and Luna early final 12 months.

Extra lately, prime crypto trade FTX filed for chapter, whereas publicly traded Coinbase World Inc (COIN.O) laid off a fifth of its workforce after slashing over 1,000 jobs final 12 months.

New York-based CoinDesk launched in 2013 to trace Bitcoin, however the platform has emerged as a key supply of reports and pricing benchmarks for the complete vary of crypto currencies.

The corporate is wholly owned by crypto-focused enterprise capital agency Digital Forex Group, which additionally has curiosity in Coinbase, in accordance with its web site.

Reporting by Yuvraj Malik in Bengaluru; Enhancing by Subhranshu Sahu

Our Requirements: The Thomson Reuters Trust Principles.


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