By Illustration by Alex Castro / The Verge
After FTX’s collapse led to financial woes for CoinDesk’s parent company, the cryptocurrency news site is getting acquired. Bullish, a crypto exchange run by former New York Stock Exchange president Tom Farley, purchased the entire site in an undisclosed all-cash deal, as first reported by The Wall Street Journal.
The acquisition won’t affect CoinDesk’s existing management team, with the outlet operating “as an independent subsidiary within Bullish.” CoinDesk will also launch an editorial committee led by former Wall Street Journal editor-in-chief Matt Murray.
While CoinDesk first exposed the hole in FTX’s balance sheet last November, the aftermath caused issues for its parent company, Digital Currency Group (DCG). DCG is a…