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CoinDesk

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CoinDesk
Type of businessSubsidiary
HeadquartersNew York, NY,
U.S.
Area servedWorldwide
Founder(s)Shakil Khan
EditorMarc Hochstein
IndustryDigital currency
Parent
URLcoindesk.com
LaunchedMay 2013; 11 years ago (2013-05)

CoinDesk is a news site specializing in bitcoin and digital currencies. Founded by Shakil Khan, the firm also provides guides to bitcoin for those new to digital currencies.[1]

Seven years after being acquired by Digital Currency Group, it was purchased in November 2023 by Bullish.[2]

History

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CoinDesk was founded by entrepreneur Shakil Khan and began publishing in May 2013.[3] Khan is also an investor in BitPay,[4] a bitcoin payment processor.

At the start of 2016, CoinDesk was acquired by Digital Currency Group for an estimated US$500,000–600,000.[5] The next year, in 2017, the company acquired blockchain data and research platform Lawnmower.[6] In 2021 the company acquired cryptocurrency data analytics firm TradeBlock.[7]

In December 2017, CoinDesk established CoinDesk Korea in collaboration with the 22nd Century Media Co., subsidiary of Hankyoreh Co., Ltd. to provide blockchain news service in South Korea.[8][non-primary source needed]

In November 2022, CoinDesk reported that FTX's partner firm Alameda Research held a significant portion of its assets in FTX's native token FTT. The news led to a bank run and liquidity crisis at FTX, culminating in FTX filing for bankruptcy protection.[9][10][11]

In November 2023, CoinDesk was acquired by Bullish Global, run by Tom Farley, a former New York Stock Exchange president. It operates a cryptocurrency exchange.[12][13][14]

CoinDesk TV

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CoinDesk TV is an online video channel which produce live news program everyday. The channel produces daily and weekly shows including "First Mover", "The Hash", "All About Bitcoin", "Word On The Block" and so on. [15]

Consensus Event

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Consensus is CoinDesk's annual crypto summit. It started in 2015. It has been held in New York City from 2017 to 2019,[16][17] virtually in 2020 and 2021, and in Austin, Texas since 2022.[18]

Bitcoin Price Index

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The CoinDesk Bitcoin Price Index (CoinDesk BPI) was launched in September 2013.[19] The Bitcoin Price Index is an average of bitcoin prices across bitcoin exchanges, and began by using price data from Bitstamp, BTC-e and CampBX. Although Mt. Gox data was not used initially, due to withdrawal concerns for US customers,[20] in November 2013, Mt. Gox was added to the BPI due to "a reduction in the risk premium and the option of additional deposit/withdrawal methods".[21] The Mt. Gox bitcoin exchange was eventually removed from the index in February 2014 after its "persistent failure to meet the index's standards for inclusion".[22]

The index was restored to an average of three exchanges in March 2014 with the inclusion of Bitfinex price data, according to CoinDesk: "Since the decline of Mt. Gox, we have observed that Bitfinex has been able to sustain a dramatic increase in its share of the total volume of U.S. dollar-denominated bitcoins traded".[23][needs update]

Publications which have referenced the Bitcoin Price Index data or price include the BBC,[24] The Wall Street Journal,[25] Reuters,[26] The New York Times,[27] CNBC,[28] and Bloomberg News.[29]

State of Bitcoin report

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In February 2014, CoinDesk released its first 'State of Bitcoin' report. The aim of the report is: to provide an overview of key cryptocurrency trends, challenges, and opportunities, while also highlighting the most important developments over the last year.[30] A follow-up report in Q2 2014 highlighted that venture capital investment in bitcoin companies was up 28 percent compared to the previous quarter,[31] and that VC investment was pouring into European Bitcoin startups.[32]

References

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  1. ^ Summers, Nick (August 21, 2013). "Baffled by the world of Bitcoin? This beginner's guide will tell you everything you need to know". The Next Web. Archived from the original on October 21, 2020. Retrieved June 18, 2018.
  2. ^ "Crypto Exchange Bullish Completes Purchase of CoinDesk: WSJ". Business Insider. Retrieved 2023-12-13.
  3. ^ Cutler, Kim-Mai (May 1, 2013). "Angel Investor, Spotify Fixer Shakil Khan Launches Coindesk, A Bitcoin Resource". TechCrunch. Archived from the original on October 9, 2021. Retrieved June 25, 2017.
  4. ^ Olanoff, Drew (Jan 7, 2013). "BitPay Banks $510K In Investment To Become PayPal for Bitcoin, Already Has 2,100 Businesses On Board". TechCrunch. Archived from the original on June 9, 2021. Retrieved June 25, 2017.
  5. ^ Matney, Lucas (13 January 2016). "CoinDesk Gets Acquired By Digital Currency Group". TechCrunch. Archived from the original on 18 May 2016. Retrieved 26 April 2018.
  6. ^ Roberts, Daniel (January 30, 2017). "The biggest bitcoin news site bought the best bitcoin data app". Yahoo! Finance. Archived from the original on November 12, 2020. Retrieved March 12, 2017.
  7. ^ Vigna, Paul (January 5, 2021). "CoinDesk Buys TradeBlock, Joining Rush for Bitcoin Analytics". Wall Street Journal. Archived from the original on July 19, 2021. Retrieved June 12, 2021.
  8. ^ "CoinDesk Korea Website". Archived from the original on 2021-10-22. Retrieved 2021-10-22.
  9. ^ Allison, Ian (2 November 2022). "Divisions in Sam Bankman-Fried's Crypto Empire Blur on His Trading Titan Alameda's Balance Sheet". CoinDesk. Archived from the original on 8 November 2022. Retrieved 9 November 2022.
  10. ^ Macheel, Tanaya (8 November 2022). "Bitcoin briefly touches a new low for the year, FTX token plunges more than 75% in broad crypto sell-off". CNBC. Archived from the original on 2022-11-08. Retrieved 2022-11-18.
  11. ^ Darcy, Oliver (November 24, 2022). "How a scoop by a little-known crypto site led to the fall of Sam Bankman-Fried and implosion of FTX". CNN Business. Archived from the original on December 24, 2022. Retrieved December 25, 2022.
  12. ^ "Bullish Global Acquires CoinDesk from Digital Currency Group (DCG)". Bullish. Retrieved 2023-12-12.
  13. ^ Huang, Vicky Ge. "WSJ News Exclusive | Company Led by Former NYSE President Buys Crypto News Site CoinDesk". WSJ. Retrieved 2024-03-22.
  14. ^ Roth, Emma (2023-11-20). "CoinDesk bought by crypto exchange Bullish". The Verge. Retrieved 2024-03-22.
  15. ^ "All Series". www.coindesk.com. Archived from the original on 2023-03-23. Retrieved 2023-10-07.
  16. ^ Hodgson, Sam (2018-05-18). "When Thousands Filled a Hilton Ballroom to Ponder the Future of Bitcoin". The New York Times. ISSN 0362-4331. Archived from the original on 2023-04-30. Retrieved 2023-04-30.
  17. ^ Canellis, David (2019-03-18). "Australia's new blockchain strategy is $71K and a non-existent roadmap". TNW | Fintech-Ecommerce. Archived from the original on 2023-04-30. Retrieved 2023-04-30.
  18. ^ "Transcript: Senator Pat Toomey on the Bad State of Crypto Regulation". Bloomberg.com. 2022-09-15. Retrieved 2023-04-30.
  19. ^ Del Rey, Jason (September 11, 2013). "What's a Bitcoin Really Worth? CoinDesk Thinks It Has the Answer". All Things D. Archived from the original on September 9, 2015. Retrieved October 10, 2014.
  20. ^ Matonis, Jon (September 11, 2013). "CoinDesk launches proprietary Bitcoin Price Index". CoinDesk. Archived from the original on November 11, 2020. Retrieved June 8, 2019.
  21. ^ "About the Bitcoin Price Index". CoinDesk. Archived from the original on 2021-05-05. Retrieved 2019-06-08.
  22. ^ Forgione, Sam (Feb 11, 2014). "Bitcoin plunges after marketplace indefinitely halts withdrawals". Reuters. Reuters. Archived from the original on August 17, 2016. Retrieved July 5, 2021.
  23. ^ Casey, Michael J.; Vigna, Paul (Mar 12, 2014). "BitBeat: Coindesk Index Finds a Mt. Gox Replacement". The Wall Street Journal. Archived from the original on August 9, 2020. Retrieved August 4, 2017.
  24. ^ "Bitcoin price falls to 11-month low". BBC. Oct 6, 2014. Archived from the original on November 12, 2020. Retrieved June 21, 2018.
  25. ^ Vigna, Paul; J. Casey, Michael (Sep 19, 2014). "BitBeat: More Pain For Bitcoin Prices; Are Chinese Miners To Blame?". The Wall Street Journal. Archived from the original on November 11, 2020. Retrieved August 4, 2017.
  26. ^ Forgione, Sam (Feb 11, 2014). "Bitcoin plunges after marketplace indefinitely halts withdrawals". Reuters. Reuters. Archived from the original on August 17, 2016. Retrieved July 5, 2021.
  27. ^ Ember, Sydney (July 1, 2014). "Single Winner of All Bitcoins in U.S. Auction". The New York Times. Archived from the original on November 12, 2020. Retrieved March 5, 2017.
  28. ^ Rosenfield, Everett (Aug 13, 2014). "Bitcoin gets bit by a summertime swoon". CNBC. Archived from the original on November 29, 2014. Retrieved September 9, 2017.
  29. ^ Dougherty, Carter (Feb 7, 2014). "Bitcoin Price Plunges as Mt. Gox Exchange Halts Activity". Bloomberg. Archived from the original on 2015-01-09. Retrieved 2017-03-06.
  30. ^ Del Rey, Jason (Feb 27, 2014). "(Almost) Everything You Want to Know About Bitcoin, in One Report". Re/Code. Archived from the original on April 22, 2016. Retrieved October 10, 2014.
  31. ^ Carson, Biz (July 11, 2014). "This week in bitcoin: VC investment is up and shows no signs of stopping after Xapo". Gigaom. Archived from the original on January 25, 2021. Retrieved October 10, 2014.
  32. ^ Wile, Rob (July 11, 2014). "Investors Are Plowing Into European Bitcoin Firms Faster Than Any Other Region In The World". Business Insider. Archived from the original on March 7, 2019. Retrieved October 10, 2014.
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