Few people don’t want Hoskinson to acquire the Coindesk Crypto news company

Last updated Jan 27, 2023

Charles Hoskinson facing backslash from some people over his plan to acquire Coindesk media.

Charles Hoskinson is the founder of the Cardano blockchain network and he is the CEO of the Cardano developer team Input Output Hong Kong Global (IOG). Just a few days ago, Hoskinson said that he is planning to acquire the Coindesk news media company to make Coindesk a better news platform. Hoskinson aimed to make the Crypto & blockchain news more informative for the CoinDesk readers and also to bring non-manipulated news about crypto projects.

On 27 Jan 2023, Charles Hoskinson talked about the criticism that he is facing from many people, who don’t want Hoskinson to own Coindesk.

Hoskinson noted that some critics are considering him a controversial personality, which is a totally bad thing.

Alongside Cardano critics, some Cardano lovers also believe that Cardano should not acquire Coindesk because efforts from the Cardano team will significantly lose to educate people about cryptocurrencies & blockchain technology.

I hope @IOHK_Charles doesn’t buy @coindesk, can you imagine the amount of effort it would take to educate them all? I’d feel sorry for him. He is better off just creating his own rival, DAO based version. At least it’d be honest and put together properly with educate people
— The ADA Projects (@theadaprojects) January 27, 2023

According to a few media reports the current net worth of the Cardano founder is near $500 million to $600 million, so it will be very tough for Hoskinson to acquire Coindesk.

Genesis Trading, Coindesk & Digital Currency Group (DCG)

Genesis Trading was a popular Crypto lending platform and this platform recently filed for bankruptcy under the chapter 11 code.

Digital Currency Group (DCG) is the parent company behind Genesis & Coindesk news media. To bring the financial position to a better level, DCG reportedly planned to sell the Coindesk company fully or partially.

Initially, DCG acquired Coindesk for $500k but the current valuation of this company is nearly $200 million.