In a rare twist of timing,both the current and former owners of CoinDesk one of the most influential crypto media platforms made headlines on the same day,August 5, 2025.While CoinDesk’s present owner Bullish filed for a massive IPO,the platform’s former parent company Digital Currency Group (DCG) restructured leadership at Grayscale,its crown jewel in crypto asset management.
This dual headline moment speaks volumes about the state of crypto media, institutional investment, and the ever blurring lines between journalism,finance and influence in Web3.
A Quick Look Back: Who Owns CoinDesk?
CoinDesk was founded in 2013 and acquired by Digital Currency Group (DCG) in 2016 for an estimated $500,000.For years,it served as a flagship media outlet within DCG’s vast crypto empire.
That changed in November 2023,when DCG,facing financial pressure and legal turmoil following the collapse of its lending unit Genesis,sold CoinDesk to Bullish,a crypto exchange led by former NYSE president Tom Farley.The deal reportedly valued at $70–80 million,was paid entirely in cash.
Now,both past and present owners are making bold moves and the crypto world is watching.
Bullish Files for a $629M IPO
On August 5, 2025,Bullish officially filed for an initial public offering (IPO),aiming to raise up to $629 million by offering 20.3 million shares priced between $28 and $31 each.This would value the company north of $6 billion,placing it among the top institutional facing crypto platforms globally.
Bullish, which operates a regulated exchange and is backed by heavyweight investors like Peter Thiel,Alan Howard and Mike Novogratz,is now betting on the public markets to further expand its footprint including via CoinDesk as a strategic media asset.
This move also signals a growing trend of crypto exchanges turning to traditional finance tools to boost visibility and attract institutional capital.
DCG’s Comeback Play: Barry Silbert Returns to Grayscale
Meanwhile, the former owner of CoinDesk,DCG,made waves of its own.
Founder Barry Silbert has reclaimed the chairmanship at Grayscale,DCG’s flagship crypto asset management company.This marks a return to public leadership for Silbert after a rocky 2023,when DCG faced lawsuits from both Gemini and New York’s Attorney General and several internal exits.
Grayscale,now managing over $30 billion in assets,is also preparing for a potential IPO after its successful conversion of key trusts (including GBTC and ETHE) into spot crypto ETFs. These developments suggest that DCG’s darkest days may be behind it and that Silbert is again steering the ship toward growth.
Why This Matters:CoinDesk Is Still the Bridge Between Worlds
It’s no coincidence that both Bullish and DCG past and present CoinDesk owners are aiming for the public spotlight simultaneously.Their decisions impact not just trading platforms and ETFs,but also how crypto is communicated to the public.
CoinDesk,as a media brand,sits at the intersection of information,trust and market influence.Its ownership matters.With Bullish on the brink of going public,questions around editorial independence are once again in the spotlight.
Editorial Shifts Raise Eyebrows
After Bullish acquired CoinDesk in 2023,CEO Kevin Worth was replaced by Sara Stratoberdha and the organization underwent a full restructuring.
By December 2024,top editors including Editor in Chief Kevin Reynolds,Managing Editor Nick Baker, and Opinion Editor Marc Hochstein were let go after internal disagreements. One flashpoint?A controversial article critical of Justin Sun was reportedly removed following internal pressure.
These changes sparked concerns about CoinDesk’s ability to maintain editorial independence, especially under a corporate owner preparing for an IPO.
The Bigger Picture:Consolidation and Influence
Together,Bullish’s IPO and DCG’s leadership revival mark a new era of crypto consolidation. The fact that CoinDesk is still deeply tied to both organizations one as its owner and the other as its former steward highlights how media,finance and crypto culture remain tightly interwoven.
This dual news cycle also raises important questions:
- Will CoinDesk be used more as a strategic asset than a neutral media outlet?
- How will Grayscale’s potential IPO impact the asset management landscape?
- Is the crypto space becoming more centralized under fewer,powerful players?
Final Thoughts
That both Bullish and DCG current and former CoinDesk owners are making headlines together is more than just coincidence.It’s a reflection of a maturing,institutionalizing and strategically recalibrating crypto industry.
As CoinDesk’s future unfolds,its role as a gatekeeper of crypto information will continue to be closely scrutinized.And with Bullish heading to Wall Street and Barry Silbert back in the public eye,expect more moves,more power plays and more headlines often on the same day.