CoinDesk is looking at putting itself up for sale, as its owner suffers the fallout from the site's own FTX bombshell scoop
caused by a liquidity crisis. It got caught up in the fallout from the collapse of Sam Bankman-Fried's FTX and of defunct cryptocurrency hedge fund Three Arrows Capital.this week as it struggles to pay back a $3 billion debt.was the first publication to report that FTX's sister trading firm Alameda Research held significant amounts of FTX's own native FTT token.
Rival exchange Binance responded by selling all its FTT holdings, triggering a solvency crisis that led to FTX filing for bankruptcy just nine days later. US prosecutors alleged in December that FTX's now-disgraced founder Bankman-Fried knowingly funneled trading customers' money onto Alameda's balance sheet. That led to his arrest in the Bahamas and extradition to the US to face eight counts of fraud.
As well as CoinDesk and Genesis, DCG owns the crypto mining firm Foundry Digital, the asset manager Grayscale Investments, and the investing app Luno.
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