Crypto media firm CoinDesk said to near $125M sale to investor group

Cryptocurrency-focused media firm CoinDesk is closing in on a deal to sell itself to a syndicate of investors for $125M, according to a media report Thursday. In 2016, by comparison, it was acquired by Digital Currency Group for $500K. Crypto conglomerate DCG, as it's known, is suffering from the bankruptcy of its Genesis Global Capital lending arm following an industry-wide downturn and falling token prices. At the height of the post-pandemic crypto-market boom, DCG was said to be valued at $10B . As part of the CoinDesk deal, which is expected to be finalized in the next few weeks, DCG is expected to keep a stake in the crypto news site, people familiar with the matter told the Wall Street Journal, without quantifying the size. In January, the newspaper reported that CoinDesk had tapped investment bankers at Lazard ( LAZ ) for a potentially partial or full sale. The investor group that's in the final stages of sealing the CoinDesk takeover is led by Matthew Roszak of Tally Capital, a crypto-focused investment firm, and Peter Vessenes of Capital6, a family office and venture capital firm, according to the people, the WSJ reported. More on DCG: DCG starts selling shares in some Grayscale trusts - report Crypto exchange Luno cuts 35% of workforce as DCG ensnarled in FTX fallout DCG looking for new banking partners for portfolio firms - report