CoinDesk

Last updated
CoinDesk
CoinDesk logo.svg
Type of business Subsidiary
HeadquartersNew York, NY,
U.S.
Area servedWorldwide
Founder(s) Shakil Khan
EditorMarc Hochstein
Industry Digital currency
Parent
URL coindesk.com
LaunchedMay 2013;11 years ago (2013-05)

CoinDesk is a news site specializing in bitcoin and digital currencies. Founded by Shakil Khan, the firm also provides guides to bitcoin for those new to digital currencies. [1]

Contents

Seven years after being acquired by Digital Currency Group, it was purchased in November 2023 by Bullish. [2]

History

CoinDesk was founded by entrepreneur Shakil Khan and began publishing in May 2013. [3] Khan is also an investor in BitPay, [4] a bitcoin payment processor.

At the start of 2016, CoinDesk was acquired by Digital Currency Group for an estimated US$500,000–600,000. [5] The next year, in 2017, the company acquired blockchain data and research platform Lawnmower. [6] In 2021 the company acquired cryptocurrency data analytics firm TradeBlock. [7]

In December 2017, CoinDesk established CoinDesk Korea in collaboration with the 22nd Century Media Co., subsidiary of Hankyoreh Co., Ltd. to provide blockchain news service in South Korea. [8] [ non-primary source needed ]

In November 2022, CoinDesk reported that FTX's partner firm Alameda Research held a significant portion of its assets in FTX's native token FTT. The news led to a bank run and liquidity crisis at FTX, culminating in FTX filing for bankruptcy protection. [9] [10] [11]

In November 2023, CoinDesk was acquired by Bullish Global, run by Tom Farley, a former New York Stock Exchange president. It operates a cryptocurrency exchange. [12] [13] [14]

CoinDesk TV

CoinDesk TV is an online video channel which produce live news program everyday. The channel produces daily and weekly shows including "First Mover", "The Hash", "All About Bitcoin", "Word On The Block" and so on. [15]

Consensus Event

Consensus is CoinDesk's annual crypto summit. It started in 2015. It has been held in New York City from 2017 to 2019, [16] [17] virtually in 2020 and 2021, and in Austin, Texas since 2022. [18]

Bitcoin Price Index

The CoinDesk Bitcoin Price Index (CoinDesk BPI) was launched in September 2013. [19] The Bitcoin Price Index is an average of bitcoin prices across bitcoin exchanges, and began by using price data from Bitstamp, BTC-e and CampBX. Although Mt. Gox data was not used initially, due to withdrawal concerns for US customers, [20] in November 2013, Mt. Gox was added to the BPI due to "a reduction in the risk premium and the option of additional deposit/withdrawal methods". [21] The Mt. Gox bitcoin exchange was eventually removed from the index in February 2014 after its "persistent failure to meet the index's standards for inclusion". [22]

The index was restored to an average of three exchanges in March 2014 with the inclusion of Bitfinex price data, according to CoinDesk: "Since the decline of Mt. Gox, we have observed that Bitfinex has been able to sustain a dramatic increase in its share of the total volume of U.S. dollar-denominated bitcoins traded". [23] [ needs update ]

Publications which have referenced the Bitcoin Price Index data or price include the BBC, [24] The Wall Street Journal , [25] Reuters, [26] The New York Times , [27] CNBC, [28] and Bloomberg News. [29]

State of Bitcoin report

In February 2014, CoinDesk released its first 'State of Bitcoin' report. The aim of the report is: to provide an overview of key cryptocurrency trends, challenges, and opportunities, while also highlighting the most important developments over the last year. [30] A follow-up report in Q2 2014 highlighted that venture capital investment in bitcoin companies was up 28 percent compared to the previous quarter, [31] and that VC investment was pouring into European Bitcoin startups. [32]

Related Research Articles

A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees.

<span class="mw-page-title-main">Brock Pierce</span> American entrepreneur and former child actor (born 1980)

Brock Jeffrey Pierce is an American entrepreneur known primarily for his work in the cryptocurrency industry. As a child actor, he starred in the Disney films The Mighty Ducks (1992), D2: The Mighty Ducks (1994), and First Kid (1996). He ran as an independent candidate in the 2020 United States presidential election.

<span class="mw-page-title-main">Bitcoin</span> Decentralized digital currency

Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that guarantees the security of the bitcoin blockchain. Mining consumes large quantities of electricity and has been criticized for its environmental impact.

<span class="mw-page-title-main">Cryptocurrency</span> Digital currency not reliant on a central authority

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The Bitcoin Foundation is an American organization that was formerly a nonprofit corporation. It was founded in September 2012 in an effort to restore the reputation of Bitcoin after several scandals, and to try to promote its development and uptake. The organization is modeled on the Linux Foundation and was funded mainly through grants made by for-profit companies that depend on the bitcoin technology.

<span class="mw-page-title-main">Mt. Gox</span> Defunct Bitcoin exchange based in Japan

Mt. Gox was a Bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in 2006 as a tradable card game service, Mt. Gox transitioned into a Bitcoin exchange by 2010 and handled over 70% of all Bitcoin transactions globally by early 2014.

<span class="mw-page-title-main">Bitstamp</span> Bitcoin exchange based in the UK

Bitstamp is a European cryptocurrency exchange founded in 2011. It is the world’s longest-running cryptocurrency exchange. It allows trading between fiat currency, Bitcoin and other cryptocurrencies, such as USD, EUR, GBP, Ethereum, Litecoin, Ripple, Bitcoin Cash, Algorand, Stellar, and USD Coin. Business operations are conducted from its registered headquarters in Luxembourg City, with a satellite office in Ljubljana.

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Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention and implementation by Satoshi Nakamoto, who integrated many existing ideas from the cryptography community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant store of value both on- and offline. From the mid-2010s, some businesses began accepting bitcoin in addition to traditional currencies.

Mark Marie Robert Karpelès, also sometimes known by his online alias MagicalTux, is the former CEO of bitcoin exchange Mt. Gox. Under his leadership, Mt. Gox was the world's largest bitcoin exchange, handling over 70% of all bitcoin transactions at its peak. Born in France, he moved to Japan in 2009.

Circle is a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts. USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. The majority of its stablecoin collateral is held in short-term U.S. government securities.

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Kraken is a United States–based cryptocurrency exchange, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and was valued at US$3 billion in January 2024. The company has been the subject of several regulatory investigations since 2018, and has agreed to cumulative fines of over $30 million.

<span class="mw-page-title-main">Digital Currency Group</span> American venture capital company

Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. The company has the subsidiaries Foundry, Genesis, Grayscale Investments, and Luno. It also formerly owned CoinDesk.

Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc, and is registered in the British Virgin Islands. Bitfinex was founded in 2012. It was originally a peer-to-peer Bitcoin exchange, and later added support for other cryptocurrencies.

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<span class="mw-page-title-main">Erik Voorhees</span> American cryptocurrency entrepreneur

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References

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