Binance CEO Changpeng ‘CZ’ Zhao has denied interest in buying crypto media outlet CoinDesk.

March 14th TweetZhao denied Blockwork report His exchange was looking to acquire a media company through a CoinMarketCap subsidiary.

According to Zhao, Binance “did not buy” CoinDesk. Because it doesn’t fit into that “geographic range”.

It’s not “pending”. Not buy. It could be good business. But it doesn’t fit our geographic scope. ”

CoinDesk is a leading cryptocurrency media platform belonging to Digital Currency Group (DCG), the parent company of bankrupt Genesis and crypto investment firm Grayscale.

Reports revealed that DCG was looking to profit from the media company due to liquidity issues faced by its bankrupt subsidiary. As of January, CoinDesk CEO Kevin Worth confirmed that the company was looking for a buyer.

Cardano (ADA) founder Charles Hoskinson has confirmed his interest in acquiring the company. But the company’s valuation, he said, is too high at $200 million.

On the other hand, this is not the first time Binance has been linked to an investment with a media company. In 2022, the cryptocurrency exchange made his $200 million investment in legacy media outlet Forbes.

On top of that, the exchange invested about $500 million in buying Elon Musk’s Twitter.

By Jules

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