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Banks ready to invest up to $200 million in crypto-currency news site Coindesk!

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According to Eleanor Terrett, Fox Business reporterinvestment bankers intend to shell out up to $200 million for crypto-currency news site Coindesk, though some buyers believe the price is too high.

Cardano founder Charles Hoskinson recently expressed interest in buying the media outlet to restore journalistic integrity while innovating the industry with new technologies such as non-fungible tokens (NFT).

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After a series of calamitous events affecting its parent company Digital Currency Group (DCG), CoinDesk has begun considering a sale, according to various media outlets.

Last week, CNBC reported that Coindesk had brought in advisers from Lazard to explore a range of options including a potential sale.

The crypto-currency news site was founded in 2013 by entrepreneur Shakil Khan. The company was later acquired by Digital Currency Group for about $500,000 in January 2016.

Last year, the website was the first to shed light on the financial problems brewing within the FTX empire. Its reporting eventually led to the bankruptcy of the world’s second largest crypto-currency and fraud charges against fallen founder Sam Bankman-Fried. The crypto-currency crisis also affected DCG, the site’s parent company. Crypto broker Genesis, a subsidiary of Digital Currency Group, recently filed for bankruptcy. Meanwhile, Foundry, DCG’s mining unit, is also facing significant challenges.

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