• CoinDesk has laid off 45% of its editorial staff in order to make the company more attractive to potential buyers.
• The decision was made by Digital Currency Group (DCG), which is the parent company of CoinDesk, and was described as a necessary step for “a financially sound business moving forward”.
• This move follows other difficulties that DCG has faced, such as the collapse of FTX and legal trouble with crypto exchange Gemini.

CoinDesk Lays Off Over 40% of Editorial Staff

Digital Currency Group (DCG) is laying off staff from CoinDesk, its digital currency publication, cutting its editorial team by almost 45%, or 20 people. This represents 16% of CoinDesk’s overall workforce. In an internal memo reviewed by TechCrunch, CEO Kevin Worth explained that this decision „was a required step to ensure a financially sound business moving forward and to set us on the path to close the deal to sell CoinDesk Inc.“

Background: Digital Currency Group Struggles

Digital Currency Group is a prominent company in the cryptocurrency industry known for its investments and support of various blockchain and digital currency ventures. However, it recently faced difficulty following the collapse of FTX and most recently legal troubles with US-based crypto exchange Gemini.

Possible Acquisition On The Horizon?

In July, The Wall Street Journal reported that DCG was nearing an almost $125 million deal to sell a stake in CoinDesk led by investor Matthew Roszak. Whether or not this acquisition will still happen remains uncertain at this time.

Implications Of Staff Cuts

The staff cuts could have major implications for both DCG’s finances and operations as well as CoinDesk’s ability to deliver quality coverage on cryptocurrency news topics. It also raises questions regarding how much autonomy DCG will allow their subsidiary publications going forward if they are successful in selling them off.


CoinDesk has yet to respond to Crypto News‘ request for comments at press time regarding these changes. For now, it appears as though DCG is taking steps towards making their financial situation look better for potential buyers ahead of any possible sale occurring within the near future.

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